Yen Bounces Back on Virus Surges – 17 November, 2020
Rising coronavirus cases overshadowed news on a possible vaccine, causing the safe-haven Japanese yen to a near one-week high. Against the dollar, the yen stood at 104.14 on Pfizers announcement on vaccine progress. The Australian dollar fell 0.3% to $0.7288, and the New Zealand dollar was 0.1% lower at $0.6889. Against a basket of currencies, the euro was steady at 92.439, and the offshore yuan was near a 29-month high at 6.5457 per dollar. Sterling was slightly higher as investors await Brexit deal advancements.