US House Speaker McCarthy: We do not have a deal on debt ceiling, negotiators will continue working


“Negotiators will continue working to get a deal on the debt ceiling,” said US House Speaker Kevin McCarthy on Thursday as Republicans and Democrats race to secure an agreement and avoid default reported Reuters.

The news also quotes the key Republican as saying, “It’s hard. But we’re working and we’re going to continue to work until we get this done.”

Additionally, Republican negotiator Representative Garret Graves said that work requirements for anti-poverty programs is a sticking point in US debt ceiling negotiations with the White House.

Market implications

The news adds to the market’s fears of the US default and allows the US Dollar to remain firmer, exerting downside pressure on commodities and Antipodeans. However, the early Asian session’s lack of activity restricts the reaction to the news.

Also read: Forex Today: US Dollar remains firm and antipodeans fall off a cliff

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