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Early Thursday, Australia’s Prime Minister (PM) Scott Morrison announced fiscal relief for those who battle the coronavirus (COVID-19) related activity, mainly in Victoria.

The Oz nation’s leader initially mentioned that the “temporary covid disaster payment” will be delivered if the lockdown is greater than seven days.

Following are the few conditions to get the government relief:

  • A total sum of up to $500 per week will be given to every person meeting the criteria.
  • The recipient must have less than $10,000 in liquid assets.
  • He/she can’t be getting another form of pandemic or income support.

FX reaction”¦

AUD/USD pauses the downside around an intraday low of 0.7736 following the news announcement.

Read:  AUD/USD Price Analysis: Inches closer to 0.7700 on Wednesday’s bearish Doji