Vaccine Optimism Softens Dollar – 14 September, 2020

Hopes for a COVID-19 vaccine had investors on the lookout for riskier assets, causing the dollar to dip against competitors. The dollar index fell from last weeks one month high of 93.664 and settled at 93.029. The euro gained for a fourth straight session to $1.1867, while the yen rose against the dollar, coming out of a two week low of 105.55 to settle at 105.73 yen. Clinical trials of a vaccine have been resuming in England which have many hopeful something will be successful. The pound gained from last weeks drop of 3.66% to trade at $1.2851. The offshore yuan hit a 16 month high of 6.8053 yuan per dollar before settling at 6.8098. Lastly, the Australian dollar fell 0.2$ to $0.7270.