Dollar falls on vaccine worries, kiwi hits strongest level in over a year

11.11.2020 - Petr Mazaylo
Dollar falls on vaccine worries, kiwi hits strongest level in over a year

The dollar dropped on Wednesday as optimism about a coronavirus vaccine was overpowered by concerns about its delivery and by a spike in U.S. coronavirus cases.

Optimism about the coronavirus vaccine boosted the dollar against the yen and the Swiss franc, but the momentum soon faded.

The dollar index fell to 92.633. The dollar dropped 0.15% to 105.07 against the yen. On the other hand, the euro slid to $1.1829.

Several U.S. states reimposed lockdowns to contain the spread of the coronavirus as winter in the Northern Hemisphere nears.

The kiwi rose from an early slip to hit its strongest level in over a year as investors decreased bets that the central bank will announce negative interest rates. It stood at $0.6868, its highest since March 2019.

The pound stood at $1.3273, nearing a two-month high on growing optimism for a Britain-EU Brexit trade deal. However, it lost its overnight gains against the euro.

In onshore trade, the yuan climbed to 6.5926. 

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