After U.S. Senate Majority Leader Chuck Schumer communicated the lack of progress in key debt ceiling negotiations at the White House, U.S. Chamber of Commerce officials also revealed their disappointment without moving. However, diplomats also said, according to Reuters, “Delighted US President Joe Biden, Congressional leaders will meet again.”
“A clean bill cannot become law,” added U.S. Chamber of Commerce officials news while also saying the two sides should focus on areas where agreement is possible, such as permitting and curbing future spending.
Also read: US Senate Democratic leader Schumer: McCarthy refused to take default off the table
Market implications
The news puts downward pressure on sentiment and allows the US dollar to remain firmer, especially ahead of key US Consumer Price Index (CPI) data for April.
Also read: EUR/USD remains defensive near 1.0950 amid US woes, Fed hawkish on US inflation
