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burberry outlet  "Senator Reid has signed off on the debt-ceiling agreement pending caucus approval," Reid's communications director Adam Jentleson said in a statement.

After a weekend of discussions between Republicans and Obama's team, House leaders were aiming to schedule action on the emerging compromise to raise the $14.3 trillion debt ceiling. The plan would also cut spending by about $1 trillion, and call on Congress to shave another $1.8 trillion from long- term debt by year's end -- or face reductions across all areas of the government. Treasury Secretary Timothy F. Geithner has said the U.S. will run out of options to prevent a default by tomorrow if the debt limit isn't increased. Standard & Poor's, which has rated the U.S. AAA since 1941, said on July 14 that the chance of a downgrade is 50 percent in the next three months and it may cut the rating as soon as this month if there isn't a "credible" plan to reduce the nation's deficit. Traders boosted bearish bets against the dollar last week on concern the political stalemate in Washingtonwill erode the value of the world's reserve currency. The difference in the number of wagers by hedge fundsand other large speculators on an advance in the euro compared with those on a drop, or so-called net longs, increased 84 percent to 17,038 on July 26 from a week earlier, the steepest gain since June 7. The net longs on the yen were 51,302, the most since September, data from the in Washington show.

burberry scarf  Dollar Index IntercontinentalExchange Inc.'s Dollar Index, which tracks the greenback against currencies including the euro, yen and pound, slid in July amid the debt ceiling debate and concern the U.S. economyis decelerating. The index was at 73.927 today.

"If we get some kind of agreement, we can see a relief rally in the U.S. dollar," said Khoon Goh, head of market economics and strategy at ANZ National Bank Ltd. in Wellington. "Any relief rally will probably be short-lived because it's quite clear that the U.S. economy has lost momentum and further government fiscal restraint will drag on the economy." The Institute for Supply Managements index for U.S. manufacturing fell to 54.5 last month from 55.3 in June, according to the median estimate of economists surveyed by Bloomberg News before the report today. Figures greater than 50 signal expansion. U.S. gross domestic product expanded at a 1.3 percent annual rate in the second quarter, after a 0.4 percent pace in the prior period, the worst six months since the recovery began in June 2009, Commerce Department figures showed July 29.