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Adding to the uncertainty surrounding the US fiscal package, the White House Chief of Staff Mark Meadows doubted the American Senators’ ability to agree over the coronavirus (COVID-19) bill soon. Earlier during the day, the policymakers refrained from providing details on a deal to extend or replace the extra $600-per-week in payments to tens of millions of people who lost the job due to the pandemic.

Key quotes

Not very optimistic that we will have any kind of an agreement on a comprehensive bill in the near future.”

I’m not even optimistic about next week.

FX implications

The news adds to the market’s risk-off mood and offers an additional burden on the US dollar. That said, the greenback gauge dropped to the fresh lows since May 2018 on Thursday.