The USD has found its feet, concomitantly with global equity markets coming off the boil. Some market narratives have pinned this on news that Pfizer will under-deliver vaccine doses to the US next week, though the Moderna vaccine will reportedly win FDA approval today. News that the US is blacklisting more Chinese companies has been in the mix, too. The wind down into the Christmas and new year holiday period may be a further factor.
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Stuart Cowell
Head Market Analyst
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