Yesterday, USD strengthened against most major currencies except JPY.
In his speech yesterday, Federal Reserve Chairman Powell said that continued fiscal and monetary stimulus is necessary for the full recovery of the economy. He also emphasized that the recovery will be stronger if both monetary and fiscal policy continue to work hand in hand.
Hours later, President Trump announced that he has instructed his representatives to stop the negotiation of COVID-19 stimulus package with the Democrats until after the presidential election. He also highlighted that his government will pass a major stimulus bill targeted at hardworking Americans and small businesses right after he wins the election.
The Federal Reserve will be releasing the minutes for the previous monetary policy meeting tomorrow at 0200 (SGT).
In his speech yesterday, Federal Reserve Chairman Powell said that continued fiscal and monetary stimulus is necessary for the full recovery of the economy. He also emphasized that the recovery will be stronger if both monetary and fiscal policy continue to work hand in hand.
Hours later, President Trump announced that he has instructed his representatives to stop the negotiation of COVID-19 stimulus package with the Democrats until after the presidential election. He also highlighted that his government will pass a major stimulus bill targeted at hardworking Americans and small businesses right after he wins the election.
The Federal Reserve will be releasing the minutes for the previous monetary policy meeting tomorrow at 0200 (SGT).
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