Traders Brace for Volatility With US Debt Deal Still Elusive

Dollar is quoted mixed versus major peers at markets reopen
McCarthy says he plans to meet with Biden on Monday afternoon

WATCH: Debt-limit negotiators resumed discussions in Washington ahead of a meeting on Monday between President Joe Biden and House Speaker Kevin McCarthy.Source: Bloomberg

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By Ruth Carson and Matthew Burgess

May 21, 2023 at 2:00 PM UTC

Updated on

May 22, 2023 at 2:55 AM UTC

This article is for subscribers only.

Investors are girding for spikes in currency volatility and losses in equities as the US struggles to clinch a debt-limit deal.

The dollar edged lower against most major peers in Asia trading Monday as traders evaluated the latest developments. President Joe Biden said a call with House Speaker Kevin McCarthy “went well,” and the two are set to meet on Monday afternoon.