Asian session review: the dollar fell against the euro and rose against the yen

The US dollar declined against the euro and strengthened against the yen. News of progress in the development of the COVID-19 coronavirus vaccine weakens demand for the dollar, as well as other "safe haven" assets, experts say. In this regard, the US dollar declined against the australian dollar and some Asian currencies.

Optimism associated with the gradual opening of economies around the world, as well as news of progress in the development of a vaccine, weaken the dollar, experts say.

Earlier, the American biotechnology company Moderna Inc. announced that the initial stage of testing the vaccine against COVID-19 in humans has yielded positive results. The company said that during the first phase of clinical trials involving 45 people, the vaccine proved to be "generally safe and well-tolerated."

Overcoming the pandemic with a vaccine or finding more effective treatments for COVID-19 could pave the way for a faster recovery in economic activity, experts say.

The ICE index, which tracks the dollar's performance against six currencies (the euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.24%.