US House Speaker McCarthy: There are still differences over spending

Eren Sengezer FXStreet

In a press conference on Wednesday, US House Speaker Kevin McCarthy said that they are sending their negotiators to the White House to try and finish up debt-limit talks.

McCarthy further noted that there were still differences over spending but added that he thinks that they could make progress today.

When asked whether he was concerned about a default, "I don't think there will be a default," McCarthy responded.

Market reaction

Markets remain risk-averse following these comments. As of writing, the US Dollar Index was up 0.3% on the day at 103.83 and the S&P 500 Index was down 0.8% at 4,111.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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