Dollar Stable on Vaccine Announcement – 11 November, 2020

The dollar held onto gains made after the announcement of the possible COVID-19 vaccine, helping boost it against safe-haven currencies. The greenback was at a three-week high against the yen, which stood at 105.41 per dollar. The euro was 0.3% lower overnight and the British pound dipped on drawn out Brexit trade negotiations. The offshore yuan firmed to 6.6121 per dollar, while the Australian dollar stood at $0.7281 and the pound fell 0.4% to $1.3220. The dollar fell over 10% to a 10 week low before rallying 1% on the new news that Pfizer had created a vaccine for the virus.