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A deal soon to raise the U.S. government's debt

A deal soon to raise the U.S. government's debt | 18 May 2023

18 May 2023, GBP/USD

A deal soon to raise the U.S. government's debt

GBPUSD trading plan:

President Joe Biden and top U.S. congressional Republican Kevin McCarthy underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default. After a monthslong standoff, the Democratic president and the speaker of the House of Representatives agreed to negotiate directly on a deal. An agreement needs to be reached and passed by both chambers of Congress before the federal government runs out of money to pay its bills, as soon as June 1. Negotiators are aiming to hammer out an agreement before Biden's scheduled return to Washington on Sunday. Congress would then have to act swiftly before the June 1 deadline hits.

Investment idea: buy 1.2405 and take profit 1.2515.

David Johnson
Analyst of «FreshForex» company
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