US House Majority Leader Scalise: US House will recess, ready to return if debt deal reached
|“The US House of Representatives will go on recess on Thursday as planned and members will be given 24 hours notice to return to Washington if a deal on raising the debt limit is reached,” said US House Majority Leader Steve Scalise on Wednesday.
The news also adds that members will get 72 hours to read any debt ceiling bill.
Even so, US House Speaker Kevin McCarthy also said that they (policymakers) could get a debt agreement in principle this weekend.
Market implications
The news adds to the market’s fears of a delay in getting the US debt ceiling extension deal, which in turn allows the US Dollar to remain firmer. That said, the US Dollar Index (DXY) rose for the third consecutive day to mark the highest levels since March 20 on Wednesday.
Also read: Forex Today: Dollar strengthens further, Kiwi tumbles
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.