US Senate Democratic Leader: We are avoiding default tonight

Anil Panchal FXStreet

"The US Senate will vote on a bill to suspend the US government's $31.4 trillion debt ceiling on Thursday night," per Senate Majority Leader Chuck Schumer reported Reuters.

“Senate reaches agreement on debating 11 amendments before final vote on debt limit bill,” adds US Senate Majority Leader Schumer.

It should be noted that the bill passed the House on Wednesday and needs to successfully through the Senate and reach US President Joe Biden for being a law before the looming June 05 deadline to avoid the US default.

Previously, chatters surroudning some Senators pushing Chuck to delay the process were making rounds and probed the optimism.

Also read: Forex Today: The rally is finally here, and the Dollar knows it

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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