The dollar declined Monday against the euro and several other currencies, risk appetite was clearly rebounded after the encouraging preliminary results of clinical trials on a vaccine against the coronavirus.read also : Coronavirus : "there will be three or four vaccines by the end of the year"
Around 19: 00 GMT (21: 00 in Paris), the single european currency was 0.90 per cent against the greenback, to 1,0917 dollar. The dollar index, which measures the value of the u.s. dollar opposite a basket of other currencies, lost 0.73 per cent. "The dollar is changing down so that the Stock market climbs after positive announcements from Moderna on its testing phase on a vaccine" against the virus, said Joe Manimbo of Western Union. The u.s. laboratory has expressed this Monday in "data interim positive" of the initial phase of clinical trials on a vaccine.
Generally regarded as a safe haven, the dollar will tend to fall during periods of renewed optimism on the stock market, in the same way as the yen and the swiss franc. The currencies of japan and switzerland were also in sharp decline against the euro on Monday. Traders digéraient also about the boss of the federal Reserve aired Sunday on CBS. Jerome Powell found that the unemployment rate could get worse in the United States to reach up to 25%, but was also of the view that u.s. growth would eventually come back and said that the Fed was not short of ammunition to support the economy.Concerns about the Brexit
The british pound managed to stabilize on Monday against the euro and rose against the dollar, at the beginning of a week rich in indicators for the british economy. The trade talks on the Brexit remain, however, in the impasse, according to several analysts. The british and the Europeans seemed to be at the end of last week, still very far from an agreement on their relationship post-Brexit after a third round of negotiations, held without major progress, and in the course of which the tone is mounted. "We expect that concerns about the Brexit back on the front of the stage in the weeks to come," predicted the analysts of Wells Fargo.
For its part, the canadian dollar, which strongly depends on the price of the black gold, posted gains against most other currencies, in the wake of the bond of the oil on Monday.No comment
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