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The government is working on targeted series of fiscal measures, said Australian Treasurer Josh Frydenberg on Wednesday.

Additional comments:

Coronavirus a substantial risk to the economy.

Treasury about to finalise estimate of virus impact on economy in Q1.

Treasury to detail estimate of virus impact on Thursday.

Business investment allowance under serious consideration.

AUD/USD strongly bid

The AUD/USD pair trades with moderate gains around 0.6600, having hit a daily high at 0.6615 on the upbeat Australian Q4 GDP data.