US Treasury Sec. Mnuchin: Hopes to get new COVID-19 bill passed by end of July

While following the footsteps of US President Donald Trump’s signals that the American fiscal package is on the way, US Treasury Secretary Steve Mnuchin offered a clear timeline of when it is expected to rollout. The Trump administration senior suggested the aid package to be passed in the current month during his appearance on the early Wednesday morning in Asia.

Key quotes

Had a productive meeting with House Speaker Nancy Pelosi and Senator Chuk Schumer.

Hopes to get the new coronavirus (COVID-19) bill passed by the end of this month.

FX implications

Given the additional details of upcoming fiscal flow, the markets are likely to remain risk-on, which in turn can help the AUD/USD and Gold prices while negatively affecting the US dollar.

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