* After the news of Moderna's new crown vaccine, the dollar has hardly changed

* The vaccine hopes to temporarily overcome the increase in cases

New York, November 16 (Reuters)-The U.S. dollar did not change much on Monday, after the drug maker Moderna stated that based on preliminary data from a late-stage trial, its experimental new crown vaccine has an effectiveness of 94.5% in preventing the new crown virus, becoming the second company The report results were much better than expected US drugmakers.

Optimism about vaccines boosted the stock market, but basically did not affect the foreign exchange market. The US dollar index remained steady at 92.64, slightly lower than the 92.74 in late Friday trading.

"At present, we may continue to see the U.S. dollar market fluctuate in a relatively narrow range, but in the longer term, due to the Fed's stance of maintaining easing policies for a longer period of time, the U.S. dollar may face pressure in the coming months because of the economic The growth rebound will be accompanied by inflation," an analyst at Action Economics wrote.

Pfizer's new crown vaccine, which has an effectiveness of more than 90%, is also waiting for more safety information and regulatory review. Therefore, the United States may obtain emergency use authorization for two vaccines in December and provide up to 60 million vaccines this year.

Risky sentiment boosted the US stock index on Monday, pushing up the 10-year US Treasury bond yield (yield rate).

Although people are worried that the new crown epidemic will increase again globally, investors still hope that an effective vaccine can save the global economy and help promote the rebound of stock markets and high-risk currencies.

The euro has stabilized against the dollar as investors are relatively optimistic at the start of the week after the release of strong economic data in Asia. The euro hit a one-week high of $1.187 earlier against the U.S. dollar and rose 0.07% to $1.184 in late trading.

Commerzbank analysts said that investors believe that the euro zone is more prepared than the heavily divided US Congress to introduce more fiscal stimulus measures, which also helps the market.

Data released on Monday showed that China and Japan, the world's second and third largest economies, are showing signs of economic recovery. The other good news for the region is that after eight years of negotiations, the Regional Comprehensive Economic Partnership Agreement (RCEP), including 15 countries including China, Japan and South Korea, was officially signed on Sunday during the East Asian Cooperation Leaders’ Meeting. This is the free trade zone with the largest population in the world and the largest free trade agreement in the world.

In the offshore market, the U.S. dollar fell 0.23% to 6.576 yuan against the renminbi. The renminbi hit a one-week high of 6.566 yuan earlier in the session.

 

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