The bill to suspend the debt ceiling strengthens the USD
The US dollar strengthened to start the European session on Wednesday after weak Chinese activity data weighed on risk sentiment, while the US debt ceiling preference cleared a barrier. main barrier. important.
At 03:55 ET (07:55 GMT), the Dollar Index, which tracks the greenback's trajectory against other currencies, was up 0.2% to 104.300, right at a two-month high. was 104,420 at the beginning of the week.
Data released earlier on Wednesday showed China's manufacturing activity fell for a second straight month in May and at a faster rate than the previous month.
This weakness in the main manufacturing sector, which has been a key driver of growth, means that overall growth in business activity in the world's second-largest economy has also taken a toll on sentiment. risk, ending an investment for the municipality as a safe haven.
The $31.4 trillion debt ceiling suspension bill was introduced late Tuesday as the Republican-controlled House Rules Committee voted 7-6 to submit it to the House of Representatives. to vote on Wednesday.
This makes a catastrophic U.S. default less likely, but could also encourage the Federal Reserve to continue raising interest rates as inflation remains elevated, continuing to support the dollar.
GBPUSD SELL LIMIT 1.2440 - 1.2430💯💯
✅𝖳𝖯 1.2390
🛑𝖲𝖫 1.2490
At 03:55 ET (07:55 GMT), the Dollar Index, which tracks the greenback's trajectory against other currencies, was up 0.2% to 104.300, right at a two-month high. was 104,420 at the beginning of the week.
Data released earlier on Wednesday showed China's manufacturing activity fell for a second straight month in May and at a faster rate than the previous month.
This weakness in the main manufacturing sector, which has been a key driver of growth, means that overall growth in business activity in the world's second-largest economy has also taken a toll on sentiment. risk, ending an investment for the municipality as a safe haven.
The $31.4 trillion debt ceiling suspension bill was introduced late Tuesday as the Republican-controlled House Rules Committee voted 7-6 to submit it to the House of Representatives. to vote on Wednesday.
This makes a catastrophic U.S. default less likely, but could also encourage the Federal Reserve to continue raising interest rates as inflation remains elevated, continuing to support the dollar.
GBPUSD SELL LIMIT 1.2440 - 1.2430💯💯
✅𝖳𝖯 1.2390
🛑𝖲𝖫 1.2490
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