US Senate kicks off the procedural vote on debt ceiling extension
As the Senate kicks off the procedural vote on the debt limit extension, the ‘yes’ votes are tricking in and eleven Republican party votes are needed to go ahead with a vote to actually raise the debt ceiling.
Manu Raju, Chief Congressional Correspondent at CNN News, notes that “McConnell and Cornyn both vote to break the filibuster on the debt ceiling. Rick Scott, another member of leadership, voted NO. Vote ongoing.”
Robert Portman votes yes to advance debt ceiling bill, joining Cornyn, Collins, Lisa Murkowski, Richard Shelby, John Thune and Mitchell McConnell. Three more needed Pat Toomey first retiring GOPer to vote no, per Politico.
John Barrasso is the 8th aye. Shelley Capito gives GOP its ninth vote. One more cloture vote on the debt ceiling to go.
Roy Blunt votes a yes, giving the 10th Republican votes in favor of cloture on the debt-limit deal.
US Senate has the received numbers to approve procedural vote, paving way for the actual debt ceiling extension vote.
The final vote in the Senate needs 50 votes for passage, which Democrats may secure successfully.
Market reaction
The US dollar is holding steady against its major rivals, as the voting is underway, with a potential debt ceiling extension on the cards.
The US dollar index is trading at 94.20, virtually unchanged on the day, at the press time.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
