Dollar declines as hope for vaccine decrease
- Last updated: November 11, 2020 | 13:59
Gulf Today Report
The dollar declined on Wednesday as hope for the coronavirus vaccine was dampened due to concerns on how the drug will be delivered, and increase in COVID-19 cases in the United States.
The dollar held steady at 105.28 yen, trading near a three-week high. Against the euro, the dollar was little changed at $1.1822.
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The prospect of a COVID-19 vaccine advanced the dollar against yen and Swiss franc, but it is slowly losing momentum because a lot needs to be done before a vaccine can be distributed.
A lot of US states on Tuesday have put up tight restrictions to help contain the spread of the virus as hospitalization surges.
On the other hand, the New Zealand dollar jumped to its strongest level in more than a year.