Yohay Elam, an analyst at FXStreet, reports that the markets have recovered amid several optimistic developments, which has resulted in a safe selloff of the US dollar.
Moderna, based in Massachusetts, announced that its initial vaccine trial had shown that the subjects had developed antibodies to COVID-19. Although the experience is limited, the encouraging results have prompted a recovery in actions. The next phase is to take place in July. “
Markets are encouraged by the message from Jerome Powell, President of the Fed. In his prepared remarks, Powell pledged to keep rates low until the United States returned to full employment, and his tone was more optimistic than in an interview this weekend. ”
“Germany and France have agreed to increase EU budget support by € 500 billion, from new debts raised by the European Commission and distributed in the form of grants. The deal is still awaiting approval, but the news has also contributed to a better mood and pushed the greenback down. “