Yesterday, USD strengthened against all major currencies.
The Federal Reserve announced yesterday that the Paycheck Protection Program Liquidity Facility (PPPLF) will be extended by three months to 30 June. The PPPLF will extend term credit to financial institutions that are offering PPP loans. As a result, the liquidity provided will help financial institutions fund additional PPP loans.
Also, Treasury Secretary Janet Yellen expressed optimism on the U.S. economic recovery, saying that President Biden’s $1.9 trillion COVID-19 relief package will boost the recovery process.
The Federal Reserve announced yesterday that the Paycheck Protection Program Liquidity Facility (PPPLF) will be extended by three months to 30 June. The PPPLF will extend term credit to financial institutions that are offering PPP loans. As a result, the liquidity provided will help financial institutions fund additional PPP loans.
Also, Treasury Secretary Janet Yellen expressed optimism on the U.S. economic recovery, saying that President Biden’s $1.9 trillion COVID-19 relief package will boost the recovery process.