"US may vote on debt limit bill on Friday" by annatimone in Dukascopy Forex Community
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US may vote on debt limit bill on Friday

Following on from US treasury sec, Jack Lew's warning earlier, a vote could come as early as Friday. Jack Lew said that the administrations latest estimates is that the US will exhaust borrowing capacity no later than October 17.
  • US will only have about $30bn in cash at hand when capacity reached
  • Net expenditures on certain days can be as high as $60bn
  • Any plans to prioritise government payments over others is simply default by any other name
  • Results could become catastrophic if government becomes unable to pay all of its bills

What is the implication on debt ceiling for US dollar? I think it's likely they’ll cobble something together to kick the can down the road, but we should still expect some nervousness as the days tick on without a solution
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CriticalSection avatar

Spot on assessment Anna T. More can kicking is assured as are initial market tensions prior to application of the latest 'bandaid' :) Times are certainly peculiar when your favourite smartphone manufacturer holds more liquid fiat than the federal purse.

mag avatar
26 sep

close office.

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