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The euro rose against the dollar in a market still optimistic

The euro continued this Wednesday, its fourth session of consecutive increase against the dollar in a market that is confident but cautious on the prospects for a vaccine against the coronavirus.

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Around 19: 00 GMT (21: 00 in Paris), the euro gained 0.59 percent against the greenback, to 1,0987 dollar. The dollar index, which measures the value of the greenback against a basket of other currencies, gave up 0.40 percent. "The market overall remains optimistic despite the cold shower on the encouraging signs of a vaccine against the Covid-19", explained Samuel Siew, an analyst for Phillip Futures. In the United States, the biotech company Moderna, one of the most advanced in the race to find a vaccine, announced on Monday the results are very preliminary but encouraging for his experimental vaccine. However, "the site of medical information Stat was published on Tuesday an article (...) claiming that (Moderna) had not provided enough data to determine the effectiveness of vaccines," complemented Fiona Cincotta, senior analyst for City Index.

No impact of the meeting Fed monetary

The dollar is generally considered a safe haven, it tends to appreciate during periods of political uncertainty or economic, and to depreciate when optimism prevails. The publication Wednesday of the minutes of the last meeting of its monetary the federal Reserve (Fed), at the end of April, has not had a significant impact on the dollar. The members of the monetary policy committee of the Fed have noted that the economic effects of the pandemic weighed not only on activity in the short term, but created uncertainty and risks in the medium term. At its April meeting, the Fed had maintained its key rate within a range of 0% to 0.25%, after having been brutally lowered in march.

For its part, the pound sterling fell after the inflation numbers in the United Kingdom. The rising prices in the country unexpectedly slowed in April to 0.8% from 1.5% in march, largely because of the falling prices of energy and fuel, said Wednesday the Office for national statistics (ONS). The analysts expected 0.9 percent. Inflation more low, and below the 2% target referred to by the Bank of England, is in general a synonym of monetary easing, which weighs on the currency.

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