US Debt crisis nears crucial vote

The US Congress is scheduled to vote today on a package of measures to avert the American debt problem becoming a full-blown crisis. With a deadline of August 2nd looming, rival Democratic and Republican proposals have paralysed Washington, with the US economy likely to run out of money to pay its debts within the week if a solution is not found.

The US Dollar has been weaker this week as the problems have unfolded, giving better rates for those of you sending money to the USA. If a vote can be won and measures agreed, we could see the Dollar strengthen and rates fall back, although if President Obama vetos the Republican bill the crisis could deepen and improve rates even further.

If you are looking to buy or sell US Dollars in the short term, contact us at Currency Index and we will be pleased to keep you up to date with the latest news and live rates.