US President Joe Biden and Republican House Speaker Kevin McCarthy are close to reaching an agreement on raising the US debt ceiling, but nothing concrete has yet been agreed.
At the end of the meeting, the American president declared that it was good and productive, but he also underlined that “there remains work to be done”.
In turn, McCarthy told reporters that the two sides are still far apart on an agreement to raise the debt ceiling. But he said: “It is possible to reach an agreement by the end of the week.”
currency movements
The dollar index rose 0.3% to 102.96 against a basket of major currencies, the highest level since early April.
The dollar rose 0.4% against the Japanese yen to hit a two-week high of 136.99 yen, and rose 0.5% against the pound to $1.2422, the highest level since April 26.
The New Zealand Dollar generally settled at $0.6232.
The euro fell 0.3% to a six-week low against the US currency at $1.0831.
The Turkish lira hit its lowest level in ten weeks at 19.75 against the dollar, and the currency has been under pressure since the results of the presidential elections led to a second round,
Read the Latest World News Today on The Eastern Herald.
