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The Wall Street Journal has reported that President Donald Trump’s advisers have discussed suspending the payroll tax for 90 days. That would provide a significant stimulus to the US economy in the wake of the coronavirus crisis. 

Stocks are responding positively to the news, with the S&P up over 1.50% at the time of writing. The dollar is also advancing with EUR/UDS trading below 1.1340 and GBP/USD around 1.2920 at the time of writing. USD/JPY has recaptured 104. 

more to come

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