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The U.S. Treasury said it plans to borrow $673 billion

The U.S. Treasury said it plans to borrow $673 billion | 03 August 2021

03 August 2021, GBP/USD

The U.S. Treasury said it plans to borrow $673 billion

GBPUSD trading plan:

The U.S. Treasury said it plans to borrow $673 billion in the third quarter, less than the May estimate of $821 billion, due to having a higher balance at the beginning of the quarter and lower outlays. The third-quarter estimate assumes an end-Sept. cash balance of $750 billion, the Treasury said in a statement. It expects to borrow $703 billion in the Oct. to Dec. quarter, assuming an end-of-December cash balance of $800 billion. This is a negative signal for the U.S. currency, since the Treasury will not take excess liquidity from the financial system.

Investment idea: buy 1.3878 and take profit 1.3940.

David Johnson
Analyst of «FreshForex» company
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