US Treasury Sec. Mnuchin: Trump would support additional PPP money

During his testimony before the House Financial Services Committee on Tuesday, US Treasury Secretary Steven Mnuchin said that the Paycheck Protection Program (PPP) could be revisited and added that assistance was also needed for families with kids.

Additional takeaways

“Smaller loans would be more in line with PPP loans that can be forgiven.”

“Next package should be more targeted.”

“PPP could be revisited, assistance also needed for families with kids.”

“We struck the right balance on airlines package.”

“Agreed to reallocate $200 billion from Fed programs to other program with congressional backing.”

“US President Donald Trump would support additional PPP money.”

Market reaction

The US Dollar Index preserves its bullish momentum and was last seen gaining 0.5% on the day at 94.03.