With no agreement on the final version of the US Federal coronavirus relief package in the house, the US senate closed for the week on Thursday evening. As a result, the key decision on President Trump’s ‘major’ economic response to the coronavirus (COVID-19) is now delayed until the next week.

FX implications

While combining with the coronavirus updates, the risk-tone seems to have renewed pressure following the news. As a result, USD/JPY drops to 104.65 from 104.85 after the announcement.