US President Trump: We stand ready to assist Lebanon

Anil Panchal FXStreet

During his White House press conference, US President Donald Trump highlighted the recent explosions in Beirut and showed readiness to help.

On late-Tuesday, Lebanon witnessed a massive explosion that took over 70 lives and injured more than 3,700 people, as per the Lebanese Health Ministry. Following the devastative event, the Lebanese President Michel Aoun called for a two-week of a state of emergency.

Key quotes

We stand ready to assist Lebanon; it looks like a terrible attack.

US military officials think explosion in beirut was an attack, a bomb of some kind.

Was not involved in kodak loan from US government.

We are very confident about vaccine for coronavirus (COVID-19), we will have it very soon.

Looking at various options on unemployment aid that does not involve Congress.

Considering suspending Payroll tax.

May have to do something on suspending evictions.

Told Microsoft, and others, interested in TikTok that US Treasury would have to benefit also.

Very big proportion of TikTok sales price would have to go to Treasury.

FX implications

While rumors point towards the Middle East’s hand behind the incident, US President Trump’s interference may flare up political tension. However, neither the risk barometer AUD/USD nor WTI has shown any major reaction to the news.

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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