The dollar ($EURUSD) reeled against major counterparts on Tuesday, after back-to-back speeches by U.S. President Barack Obama and House Speaker John Boehner revealed no progress on talks crucial to raising the U.S. debt ceiling and preventing a default.

Speaking from the White House Monday evening, Obama urged congressional leaders to give him a “fair compromise” about cutting the deficit and raising the U.S. debt ceiling in “the next few days.”