“I just concluded a productive meeting with Speaker McCarthy about the need to prevent default,” said US President Joe Biden per the White House announcements shared by Reuters late Monday.
Before him, US House Speaker Kevin McCarthy crossed wires and conveyed his optimism about reaching a deal on the US debt ceiling extension. However, US Republican Patrick Mchenry appeared less promising.
Also read: US House Speaker McCarthy: Meeting with Biden was productive but no debt ceiling deal
We reiterated once again that default is off the table.
We will continue to discuss the path forward.
US Dollar drops
The news fails to inspire the greenback bulls as the US Dollar Index (DXY) takes offers to refresh the intraday low near 103.18 by the press time.