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Axios came out with the news, relying on the Trump administration official, suggesting that US President Donald Trump is leaning toward preserving his total funding cut for the World Health Organization (WHO) after being on the brink of announcing he’d restore partial funding.

Key quotes

President Trump is leaning toward preserving his total funding cut for the World Health Organization after being on the brink of announcing he’d restore partial funding, according to three sources familiar with the situation.

A fourth source, a senior administration official, cautioned that the decision-making was fluid and was still subject to change.

 Trump spent his weekend at Camp David with some of his closest Republican allies in the House of Representatives.

A source familiar with the private discussions said that House members at Camp David pressed Trump ‘to not give a dime to WHO.’

Market implications

While the US-China tension is already weighing on the markets’ trading sentiment, news like this could strengthen the risk-off moves. As a result, the AUD/USD pair, currently near 0.6420, will have an additional reason to drop further.