US Treasury Secretary Mnuchin said on Tuesday that he is working with the White House and Senate to pass an additional coronavirus financial relief bill by the end of July.
"There appears to be bipartisan support in Senate to repurpose $135 billion left in the PPP program to target it toward hardest-hit industries," Mnuchin added while testifying before the US House Financial Services Committee.
Meanwhile, FOMC Chairman Jerome Powell said that the Federal Reserve is reviewing its standards in the municipal liquidity facility to broaden the borrower base. "The US banking system is very strong," Powell reiterated at the same hearing.
The US Dollar Index largely ignored these comments and was last seen losing 0.15% on the day at 97.32.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.