US’ Manchin: Made significant progress in bipartisan infrastructure proposal negotiations

Anil Panchal FXStreet

US Senate, Democratic Senator Joe Manchin crossed wires, via Reuters, to renew optimism over President Joe Biden’s infrastructure spending plan.

The policymaker said, “We have made significant progress in bipartisan infrastructure proposal negotiations,” while also adding, “We are close to an agreement.”

Earlier in the day, Senate Republicans blocked the opening debate on the infrastructure spending bill by 51-49 votes, pushing it back to Monday.

FX implications

Given the market’s recent optimism, backed by strong earnings, the news should help risk barometers to consolidate recent losses. It should, however, be noted that the updates on the procedural vote over the stimulus is uncertain despite today's deadline and the same tests the latest risk-on mood.

Read: AUD/USD: Recovery remains capped around 0.7350 on mixed sentiment

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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