Stimulus hopes fade
Leaked comments from Pelosi's talk with her Democratic caucus have led the market to conclude that a stimulus deal isn't coming. The result is an ugly 1.65% fall in the S&P 500 that's spilling over to commodity currencies.
AUD/USD is on the lows of the day, down 17 pips to 0.7063. Technically, it's threatening the lows from last week. A breakdown could take it back to 0.7000.
