Dollar closed at $ 3,644 amid optimism for another possible covid vaccine

Heidy Monterrosa Blanco – hmonterrosa@larepublica.com.co

At 1:00 pm, the dollar reached an average price of $ 3,634.41, which represented a fall of $ 5.54 compared to the Representative Market Rate (TRM), which stood for today at $ 3,639.95.

The currency opened the day with a price of $ 3,642 and its close was $ 3,644.50. The minimum price that was registered on the Set-Fx platform was $ 3,618, while the maximum was $ 3,652.90. The amount negotiated during the day was US $ 775.95 million in 1,270 transactions.

In foreign exchange markets, the dollar fell against a basket of six prominent currencies, due to the news about the vaccines against covid-19, which raised hope despite the increase in cases of contagion in several countries. The dollar index declined 0.149%, while the euro improved 0.19% to $ 1.1875.

Yesterday, Moderna announced that its vaccine is 94.5% effective, while last week it was known that the one created by Pfizer and BioNTech has 90%. In addition, the American vaccine can be stored for up to 30 days in the refrigerator, without the need for freezing temperatures, unlike BioNTech.

“The market is assuming that we can see the end of the tunnel, that in 2022 a large part of the world’s population will start to have access to vaccines,” Hsbc’s Herald van der Linde told Reuters.

On the side of oil prices, around 12:55 pm, a barrel of WTI fell 0.89%, to US $ 40.97, while that of Brent lost 0.98%, to US $ 43.39. The price declines occur because the expectations that OPEC and its allies will adjust their supplies next year do not offset the increase in cases of contagion of the virus, which puts pressure on the demand for crude.

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