

Please try another search
By Peter Nurse
Investing.com - The U.S. dollar sold off in early European trade Tuesday amid optimism over the global recovery given positive news of a potential coronavirus vaccine as well as the further reopening of economies, prompting investors to edge out of this safe haven.
At 2:45 AM ET (0645 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 99.582, down 0.3%, EUR/USD rose 0.2% to 1.0922, GBP/USD gained 0.5% to 1.2240, and USD/JPY rose 0.2% to 107.87.
Late Monday, U.S. biotech company Novavax (NASDAQ:NVAX) said it has begun trials for a coronavirus vaccine in Australia. It expects preliminary results from the Phase 1 clinical trial in July, and upon successful completion Phase 2 will be conducted in several countries, including the United States.
Novavax is one of many drugmakers around the world racing to find a way to fight a pandemic that's infected over 5 million people worldwide.
This followed news that a drop-off in virus cases led the Japanese government to end its state of emergency, adding to the increasing number of countries that are reopening their economies as the course of the coronavirus slows.
Still, ranges are tight as the U.K. and the U.S. return from Monday’s holiday while investors keep a wary eye on the tensions between the U.S. and China and the protests in Hong Kong.
"Markets are caught between two conflicting currents," said Michael McCarthy, CMC Markets' chief strategist. "Rising tensions between China and the U.S. are raising concerns, while easing Covid-19 lockdown measures are fuelling growth optimism."
The Chinese yuan, a barometer of relations between the world's two biggest economies, firmed a bit to 7.1324, though it remains near a two-month low of 7.1465 hit on Friday.The Australian dollar was at $0.6580, up 0.5%, and the kiwi up 0.6% at $0.6136.
By Andrew Osborn MOSCOW (Reuters) -Russia on Friday asked 10 U.S. diplomats to leave the country in retaliation for Washington's expulsion of the same number of Russian diplomats...
By Yasin Ebrahim Investing.com – The dollar looks set to post a second-straight weekly decline Friday, shrugging off a wave positive data earlier this week, and will continue to do...
By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The U.S. Treasury Department on Friday said Vietnam, Switzerland and Taiwan tripped its thresholds for possible currency...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.