Following the Fed rate cut and a change to capital rules, the US policymakers unveiled new plans to provide roughly $8 billion emergency funding bill to fight the coronavirus, as per the NBC news. Key quotes The bill, which passed by an overwhelming majority, provides $7.8 billion to fight the coronavirus and includes a mandatory funding authorization for $500 million over a 10-year period to be used toward a remote health care program. The bill includes a provision that requires that funds are only used to fight the coronavirus and other infectious diseases as some Democrats feared that the Trump administration could raid the funding and use it for other unrelated purposes. Trump had submitted a $2.5 billion request to Congress to combat the virus, but Democrats quickly said that that amount would be insufficient. Sen. Chuck Schumer, D-N.Y., responded with an $8.5 billion proposal. Schumer said Tuesday that he expected the final deal to be between $7 billion and $8 billion. Trump said separately at an event in Washington on Tuesday morning, ‘It looks like they’re going to give us $8.5 billion,’ and added, ‘I think I should say, ‘I’ll take it.’ FX implication It can be considered as an additional boost to the recent risk reset, US dollar recovery. As a result, the USD/JPY extends the recovery from a multi-week low to 107.55 after the news. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY benefits from risk reset, US dollar pullback despite coronavirus fears FX Street 3 years Following the Fed rate cut and a change to capital rules, the US policymakers unveiled new plans to provide roughly $8 billion emergency funding bill to fight the coronavirus, as per the NBC news. Key quotes The bill, which passed by an overwhelming majority, provides $7.8 billion to fight the coronavirus and includes a mandatory funding authorization for $500 million over a 10-year period to be used toward a remote health care program. The bill includes a provision that requires that funds are only used to fight the coronavirus and other infectious diseases as some Democrats feared that the Trump administration… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.