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Pound Rallies to 12-Week Highs on AstraZeneca Vaccine, UK PMIs

The sterling pound today surged to 12-week highs against the dollar boosted by news of AstraZeneca’s COVID-19 vaccine given that its a British/Swedish company. The GBP/USD currency pair later trimmed its gains after the dollar surged to new multi-month highs on upbeat US Flash PMIs released by Markit Economics.

US Dollar Extends Weakness on Optimism Over Oxford-AstraZeneca COVID-19 Vaccine

The US dollar is extending its weakness to start the trading week, driven mostly by optimism in the broader financial market amid the latest coronavirus vaccine from Oxford-AstraZeneca. This comes soon after Pfizer and Moderna announced their own two-dose inoculations in preventing COVID-19. With economic data being mostly quiet on Monday, traders will be looking for the latest hints regarding US fiscal stimulus and relief packages.

US Dollar Subdued As Mnuchin Allows Fed Emergency Lending Programs to Expire

Is the US dollar in store for a rally in the coming days amid a potential selloff in the broader financial markets? With news that several of the US central bank’s emergency lending programs will be allowed to expire at the end of the year, equities could come under pressure, which would possibly benefit the traditional safe-haven asset.

Euro Falls Against Dollar on Risk-Off Mood, Rallies on US Jobless Claims

The euro today fell against the resurgent dollar for the second consecutive day as the impasse regarding the EU’s budget weighs down the single currency. The EUR/USD currency pair was also affected by the risk-off market sentiment as investors bought the safe-haven dollar as the second wave of coronavirus infections intensifies.

Sterling Pound Rallies Against Dollar on Upbeat UK Inflation Data

The Sterling pound today surged against the dollar boosted by the upbeat British inflation report released early in the morning and the positive investor mood. The GBP/USD currency pair’s rally was also fueled by investor hopes that the UK and EU will reach a post-Brexit trade deal before the fast-approaching December 31 deadline.

US Dollar Weakens As Moderna Announces 94% Effective Coronavirus Vaccine

The US dollar is weakening to start the trading week after another pharmaceutical giant announced a second effective coronavirus vaccine. The news lifted the financial markets across the board, elevating investors’ risk appetite. This led to a selloff in the greenback, almost guaranteeing that the buck is headed for one of its worst years on record.

US Dollar Gains As Jobless Claims Hit Fresh Pandemic Low, Inflation Beats Estimates

The US dollar is looking to maintain its momentum toward the end of the trading week, buoyed mostly by economic data rather than the broader market trends. The greenback is searching for support from lower-than-expected inflation and initial jobless claims falling to a fresh pandemic low. Could the buck travel on an upward trajectory to close out 2020?

US Dollar Drops As Pfizer, BioNTech Announce 90% Effective COVID-19 Vaccine

The US dollar is sliding against many of its currency rivals to kick off the trading week, adding to the global reserve currency’s 2020 woes. The greenback may be in store for some more pain in international financial markets due to rallying equities driven by news that Pfizer’s COVID-19 vaccine is mostly effective. With a lack of data being released and the 2020 presidential election in the rear-view mirror, it is all about […]

Canadian Dollar Rallies Against US Peer Despite Weak Jobs Data

The Canadian dollar today rallied against its US peer as the US Presidential election continued to weigh on the greenback overshadowing the positive jobs data. The USD/CAD currency pair today fell to new 10-week lows as the loonie got an edge against the greenback as Joe Biden secured a significant lead over incumbent President Donald Trump.

US Dollar Struggles on Better-Than-Expected October Jobs Report

The US dollar is struggling to plug the hemorrhaging to finish the trading week. The greenback has been cratering against many of its major currency peers this week as a bit more certainty over the 2020 election result and a substantial rally in stocks sent the buck lower. With a better-than-expected October jobs report, is the dollar in store for greater losses in November?

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