Some signs of decoupling between the Dollar and overall risk sentiment, or perhaps just the fact that de Cos has put a cap on the Euro by expressing concern about the single currency’s moves in relation to the Buck, while other safe havens underperform in wake of Moderna’s anti-virus drug delivering a 94.5% efficiency rating vs 90% from the Pfizer-BioNTech vaccine. Moreover, Eur/Usd may be hampered by an EU budget roadblock as Hungary and Poland register reservations and threaten to veto the 2020-27 fiscal plan, albeit holding ‘comfortably’ above 1.1800 for now. Nevertheless, the index has reclaimed 92.500+ status within a 92.463-847 range as the Yen struggles to maintain advances beyond 104.50 and Franc lags sub-0.9100 following a marked rise in Swiss sight deposits at domestic banks. Back to the Greenback, no material response to a weaker than forecast headline NY manufacturing print, but a statement from President-elect Biden and his VP pick scheduled from 18.45GMT may well warrant some attention along with Fed comments via Daly and Clarida.
