Bipartisan Policy Center said in a statement on Tuesday that the “US debt limit default will be between early June and early August, depending on revenue strength.”

Markets are cautiously awaiting an update on a debt ceiling meeting, as US President Joe Biden meets Republican House Speaker Kevin McCarthy and other congressional leaders at the White House.

The meeting is scheduled at 20:00 GMT but it is not expected to produce a final agreement on raising the debt limit.

Market reaction

At the time of writing, the US Dollar Index is adding 0.12% on the day at 101.50.