In a press conference on Wednesday, US House Speaker Kevin McCarthy said that they are sending their negotiators to the White House to try and finish up debt-limit talks.

McCarthy further noted that there were still differences over spending but added that he thinks that they could make progress today.

When asked whether he was concerned about a default, "I don't think there will be a default," McCarthy responded.

Market reaction

Markets remain risk-averse following these comments. As of writing, the US Dollar Index was up 0.3% on the day at 103.83 and the S&P 500 Index was down 0.8% at 4,111.