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John Wang
in
Forex
May 26 20:03

US dollar is losing ground as investors become less risk-averse

Vaccine race is heating up.
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US dollar entered a selling wave in early European trading on May 26. The investors are once again optimistic about the economic reopenings worldwide and are turning away from safe-haven assets.
By 06:45 GMT the US Dollar Index lost 0.3% and was at 99.852. EUR/USD gained 0.2% and reached 1.0922. GBP/USD added 0.5% and reached 1.2240. USD/JPY firmed 0.2% and reached 107.87.
Aside from general optimism, the market has also been spurred by the more specific positive news. Yesterday Novavax - the US-based biotech company - stated that it has launched first trials for its COVID-19 vaccine. First results are expected to arrive in July. The second phase of the trials will be carried out in several countries.
The vaccine is also pursued by Gilead and a number of other companies.
Earlier the reduction of the number of new cases encouraged Japanese authorities to lift the state of emergency in the country.