The Australian Prime Minister (PM) Scott Morrison confirmed Tuesday that the jobs support program implemented amidst the coronavirus crisis will expire end-March.
PM Morrison added that the unemployment benefit will be increased by $50/fortnight. He said that there will be no extension to the job support program.
According to reports, Australia's federal government is planning to make an extra $25 payment permanent.
AUD/USD at multi-year highs
AUD/USD hits fresh three-highs at 0.7935 as the reflation trade picks update while a new commodities supercycle kicks off, with copper prices climbing to the highest levels since 2011.
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