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By the end of Wednesday’s jostling over the much-awaited stimulus, White House Chief of Staff Mark Meadows sounds disappointed and highlighted US President Donald Trump’s readiness to use executive orders to overcome the policy deadlock.

Key quotes

Will meet with House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer on Thursday evening.

If significant progress hasn’t been made by Friday, Trump is ready to use executive action.

Two sides are still trillions of dollars apart in talks in COVID-19 relief bill.

FX implications

Despite the uncertainty surrounding the actual outcome, the policymakers’ readiness to deliver the fiscal help before they go on vacation keeps the market sentiment positive. While portraying the same, AUD/USD stops the pullback from a multi-week high near 0.7200.