American shutdown: New season of the family saga

American shutdown: New season of the family sagaThe dollar index is up 5% since late July and is at a one-year high. The dollar has already sent the Chinese yuan to its lowest level since December 2007 and even Japan is preparing to bring down the weakened yen with currency injections. No one is interested in a dollar that is too strong, but now only American politicians can break this trend.The Republican-controlled US House of Representatives returns this week for a fresh political fight over spending cuts and impeachment. The reason for the conflict is the demand to reduce spending for the next fiscal year to $1.47 trillion, which is only $120 billion less than what Biden and House Speaker Kevin McCarthy agreed in May.Policymakers have about 15 days before government funding expires on Sept. 30, leaving little time to agree on 12 appropriations bills.Additionally, McCarthy's Speakership could be in jeopardy if he fails to move forward with the impeachment inquiry sought by Trump's allies in the House.The aggressive but unproductive debate has already prompted ratings agency Fitch to downgrade US debt from AAA to AA+ due to serious doubts about the US government's ability to pay its bills.At the same time, Congress is trying to avoid a government shutdown, but everything is much more complicated: in reality, the Democrats benefit from a shutdown, so that later the almost inevitable recession can be presented as a failure of the Republicans. So let's wait for the inflation statistics and stock up on popcorn before watching the show.Profits to yall!#ForexChief #KevinMcCarthy #Nvidia #forexnews #stocks #worldnews #Market #Fitch #shutdown