US Treasury Sec. Mnuchin: Payroll tax cut will not be in this coronavirus bill

Republicans are still working on a new formula for expanded unemployment benefits, US Treasury Secretary Mnuchin told CNBC on Thursday and noted that a payroll tax cut won't be included in the next coronavirus bill.

Mnuchin further added that he will be meeting with White House Chief of Staff Mark Meadows and Senate Majority Leader Mitch McConnell later in the day.

Market reaction

The US Dollar Index, which tracks the USD's performance against a basket of six major currencies, is extending its recovery in early American session and was last seen gaining 0.2% at 95.14.