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US Senate delays decision on the coronavirus relief bill to next week

With no agreement on the final version of the US Federal coronavirus relief package in the house, the US senate closed for the week on Thursday evening. As a result, the key decision on President Trump’s ‘major’ economic response to the coronavirus (COVID-19) is now delayed until the next week.

FX implications

While combining with the coronavirus updates, the risk-tone seems to have renewed pressure following the news. As a result, USD/JPY drops to 104.65 from 104.85 after the announcement.

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USD/JPY seesaws below 105.00, struggles to justify broad risk-off moves

USD/JPY carries the previous day’s lack of moves, despite broad risk-off, while taking rounds to 104.60/65 amid the initial Asian session on Friday.
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