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The US President Joe Biden has said that he has been talking to Republicans and that he thinks they are in a position to think big on covid-19 relief.

He agrees with $75,000 income threshold put forward by democrats for stimulus checks.

Market implications

The Democrats are moving to fast-track President Joe Biden’s $1.9 trillion COVID-19 relief package.

The prospects of such fiscal spending and continued ultra-easy Federal Reserve monetary policy is taking the wind out of the sails of the greenback on Tuesday.