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US Treasury Secretary Steve Mnuchin recently crossed wires, via Fox Business, while speaking on the coronavirus (COVID-19) stimulus discussions between the American policymakers. The Trump administration member blamed House Speak Nancy Pelosi and the Democratic Leader of the Senate Chuck Schumer for the deadlock. The diplomat also said to discuss the much-awaited aid package with the Senate Republican leader Mitch McConnell and other party members.

Key quotes

Continuing to discuss coronavirus aid with McConnell, other Congressional Republicans.

We can always do more if a trillion isn’t enough.

Federal Reserve has done an extraordinarily good job on COVID-19 response.

Hopes McConnell will introduce another coronavirus relief bill next week.

FX implications

The news helps to rebuild the market sentiment while helping AUD/USD to bounce off 0.7380 towards 0.7390. However, cautious sentiment ahead of a busy day in Asia keeps the risk-tone pressured after Monday’s sluggish performance.

Expert score

5

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