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Amid a growing spat between the US and China, Bloomberg came out with the news suggesting additional burden on the market’s risk-tone as members of US President Donald Trump’s party demand push for an investigation into the virus outbreak.

Key quotes

Republicans on a House coronavirus oversight subcommittee of the US are demanding that the panel’s Democratic members pursue the testimony of the World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus and Chinese Ambassador to the U.S. Cui Tiankai.

Following the lead of President Donald Trump, Republicans in Congress are attempting to focus on the roles of China and the global health organization in the pandemic at the same time Democrats are criticizing the administration’s handling of the outbreak

Democrats have accused Trump and Republicans of using WHO and China to distract from the administration’s own response to the global pandemic before the November election.

FX implications

While the news suggests further hardships for the risks, no major reaction could be witnessed due to the early Asian session. That said, S&P 500 Futures remain mildly positive around 2,920 while AUD/USD and USD/JPY retrace the previous day’s gains by the press time.