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Dollar lower on a surge of new infections in the U.S

U.S dollar dipped against a basket of six major currencies to settle at 92.73, as optimism about a coronavirus vaccine was offset by worries about how the drug will be delivered and by a surge of new infections in the United States.

optimism regarding the coronavirus vaccine testing pushed the dollar up but this momentum is starting to fade because there are still several obstacles to clear before a vaccine can be distributed while Many U.S. states imposed restrictions to limit the spread of the virus as hospitalizations soared.

Earlier this week Pfizer a U.S. drug-maker and BioNTech its German partner announced that a large-scale clinical trial showed their vaccine was more than 90 Percent effective in preventing COVID-19.

The vaccine news comes as the global tally of COVID-19 infections reached 50.68 million on Monday, stoking worries of more lockdown measures across the globe.

in the economic space, U.S. JOLTs Job Openings came at 6.43 million vacancies below expectations of 6.5 million

 

Over in Europe, the Common currency traded flat on Tuesday's session against the Greenback to settle at 1.1813 EURUSD.

In economic news, Germany ZEW Economic Sentiment report which gauges the six-month economic outlook came at 39 below expectations which showed that the figure will land at 41.7.

 The Great British Pound was higher versus its counterpart, the U.S. Dollar, to settle at 1.3271 on growing optimism that Britain and the European Union will agree on a long-sought-after trade deal.

In the economic space, the U.K. Average Earnings Index which measures the change in the price businesses and the government pays for labor showed a 1.3 percent increase beating expectations of one percent.

Regarding Safe-Haven assets, the Japanese Yen was flat against the Greenback to end the session at 105.29 USDJPY.

Moreover, the Swiss franc fell against the U.S dollar to settle at 0.9150 USDCHF.

The Precious Metal ended Tuesday’s trading session higher, The Gold finished the session at 1876.

Elsewhere in Canada, the Lonnie which is a commodity-sensitive currency traded lower. The USDCAD ended the session at 1.3030.

The Aussie Dollar finished the session relatively flat at 0.7282 but currently trading higher near 0.7300.

Cryptocurrencies ended the session mixed, with Bitcoin settling at 15370 BTCUSD. Moreover, Litecoin and Ethereum ended the session at 55.8 LTCUSD and 450 ETHUSD, respectively.

 

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