While on the other, any constructive tone in negotiations can add to the dollar's renewed popularity." "On the one hand, a continued stalemate tends to lend a safe-haven boost to the dollar. "The debt ceiling talks seem to be helping the dollar regardless of how they appear to be going," said Joe Manimbo, senior market analyst at Convera in Washington. An agreement needs to be passed by both chambers of Congress before the federal government runs out of money to pay bills, as soon as June 1. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default.Īfter a months-long standoff, both political leaders agreed to negotiate a deal directly.
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