US Senate leaders announced a two-year spending agreement yesterday, in a critical move towards avoiding another shutdown. In New Zealand, the RBNZ trimmed its economic projections, pushing the Kiwi off the cliff. As for today, all eyes turn to the BoE “Super Thursday” meeting.
US Senate Leaders Agree on a Two-year Budget Plan
The dollar traded higher against all its G10 peers on Wednesday, with the main losers being SEK, NZD and NOK, in that order. With no clear fundamental catalyst behind greenback’s performance, the currency may have been helped to some extent by developments in the US political scene.
Yesterday, US Senate leaders announced a bipartisan two-year spending agreement, a critical step towards avoiding another government shutdown on Friday, when the current funding measure expires. Both the House and the Senate are expected to vote today, with the deal including another short-term measure to fund the government through March 23. This will buy some time for writing the details of the two-year deal.
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