Dollar declines as hope for vaccine decrease - GulfToday

Dollar declines as hope for vaccine decrease

  • 11 Nov 2020
Dollar note

Picture used for illustrative purpose. File

 Gulf Today Report

The dollar declined on Wednesday as hope for the coronavirus vaccine was dampened due to concerns on how the drug will be delivered, and increase in COVID-19 cases in the United States.

The dollar held steady at 105.28 yen, trading near a three-week high. Against the euro, the dollar was little changed at $1.1822. 

READ MORE 

Gold climbs as concern over coronavirus cases increase

Oil climbs as US crude stocks decline

Dollar rise after coronavirus vaccine news

The prospect of a COVID-19 vaccine advanced the dollar against yen and Swiss franc, but it is slowly losing momentum because a lot needs to be done before a vaccine can be distributed.

A lot of US states on Tuesday have put up tight restrictions to help contain the spread of the virus as hospitalization surges.

On the other hand, the New Zealand dollar jumped to its strongest level in more than a year.

 

 

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