US Pres. Trump: Working to speed up FDA approval on sterilizing medical masks for reuse

Anil Panchal FXStreet

In his Coronavirus Task Force Briefings, US President Donald Trump praises the new tests to find the cure of the pandemic while also assuring to get FDA approval on sterilized medical masks.

Key quotes

We've been doing more tests than any other country anywhere in the world. It's one of the reasons that we have more cases.

More hospitals, like the one in the Javitz center, are coming to New Jersey and New Orleans.

Companies can send employees to retaurants will get a tax break to help struggling retaurants.

The highest point in death rates from coronavirus is likely to hit in two weeks.

Will be extending social distancing guidelines until April 30.

Hydroxychloroquine is now being administered to 1100 people along w a ZPAC in NY.

It’s only been two days; previously, officials said those trials began earlier last week.

Friday, FDA authorized new test that delivers "lighting fast" results in as little as 5 min.

Working to speed up FDA approval on sterilizing medical masks for reuse.

Healthcare workers have said they have had to reuse masks while treating coronavirus patients and have said that’s dangerous.

FX implications

Given the early Monday morning in Asia, the market’s reaction to the news remains mostly muted. However, the broad risk-off is likely to prevail unless any news of a cure rolls out. Even so, the US dollar might have to remain under pressure, despite its safe-haven status, amid pandemic worries in the world’s largest economy.

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.

EUR/USD remains offered below 1.1600, seems vulnerable near multi-month low

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1530 region, or the lowest level since November 2025, and lower for the third consecutive day on Wednesday. Spot prices slide back below the 1.1600 mark during the Asian session and seem vulnerable to slide further.

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold bounces back toward $5.200 amid sustained safe-haven flows

Gold bounces back toward $5,200 in Wednesday's Asian session, moving away from an over one-week low. Sustained safe-haven flows, amid escalating geopolitical tensions in the Middle East, act as a tailwind for the bullion. However, a bullish US Dollar and reduced bets for more aggressive easing by the US Fed might keep a lid on the non-yielding yellow metal ahead of the US ADP report and ISM Services PMI data due later in the day.