Yen pulled back against U.S. dollar on Tuesday, after news of the development of a coronavirus vaccine dragged the safe haven currency on optimism of a global economic recovery.
U.S. drugmaker Pfizer Inc and German partner BioNTech SE said their vaccine was more than 90% effective in preventing COVID-19 in a large-scale clinical trial.
The yen inched higher to 105.07 against the dollar, after suffering its biggest loss overnight since March.
The vaccine news comes amidst the global tally of COVID-19 infections touched 50.68 million on Monday, fuelling worries of more lockdown measures across the globe.
The euro was slightly changed at 1.1819, after falling more than 0.4% overnight.
The prospects of a Biden presidency has boosted risk sentiment as many believe it could maintain an easy monetary policy and boost international trade relations.
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U.S. stock futures slipped today, signaling a muted opening for major indexes that stand at record highs ahead of a busy week of corporate earnings and economic data.
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Indian equities fell the most in over a month as a rapid surging second wave of the coronavirus across the country acted as the key deterrent to market sentiment.
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The Indian rupee dropped for the sixth consecutive session against the dollar, as a surge in coronavirus cases intensified fears of a delay in economic recovery.
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Pound bounced back from 2 month lows and traded around 1.3750 amid timid US Treasury yields capping Dollar’s gains.
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Check out how European markets are reacting today