US bond yields are improved due to the Fed’s hawkish stance, strengthening the US Dollar .continues the winning streak that began on September 19 and reached the five-month high. The spot price is trading near 0.9140 during the early trading hours of the European session on Tuesday.
However, the warnings from US President Joe Biden and a senior adviser regarding the potential consequences of a federal government shutdown have heightened market concerns. They have emphasized the potential difficulties that could arise, particularly affecting low-income women and children who may lose food benefits.
These proposed cuts would need approval from the Democratic-controlled Senate, which is expected to reject them. The failure to reach an agreement between both houses could lead to a partial government shutdown by the upcoming Sunday.
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