XE Market Analysis: Asia – Nov 09, 2020

After hitting a better than two-month low overnight, the Dollar turned higher in N.Y. trade on news that Pfizer and BioNTech Covid vaccine appears to be very effective. This saw equity markets soar, and U.S. Treasury yields headed higher. The greenback initially fell on safe-haven outflows as sa result of the sharp risk-on conditions, though later turned higher, as prospects for a solid U.S. economic recovery take shape once the vaccine is widely available.