Obama rejects short-term debt limit plan

FXstreet.com (Barcelona) - Obama has rejected the Republican proposal for a short-term debt limit compromise, according to market sources, leading to a sell-off in Yen crosses as well as the S&P futures. As Bloomberg reports, Boehner left Obama meeting without speaking to reporters nor making any statement.

GBP/JPY violates support after 157.06 impulsive bullish reaction

GBP/JPY soared to 157.06 session highs and altitudes not seen in 7 days after market participants reacted positively to republicans’ proposal and Boehner’s proposal to lift the debt ceiling for 6 more weeks.
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Obama refuses to accept short-term debt limit proposal

President Obama on Thursday rejected the republicans' offer to kick the can down the road on the debt ceiling issues for a 6-week temporary extension, with reports suggesting he demands the reopen of the government first.
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