The Asian market session showed major currency trading back to record a slight increase after being backed by another positive report on Russia's Covid-19 vaccine which was said to be more effective.
The Sputnik V vaccine is said to have shown an effectiveness of 92% in the results of experiments conducted on a small number of volunteers who underwent testing after being tested positive for Covid-19.
The greenback dollar traded slightly lower but remained strong, following a spike in U.S. treasury yields that also benefited from the positive development of the coronavirus vaccine.
Euro trading continued to be depressed after being weakened by continued pressure on rising Covid-19 cases in Europe and comments from European Central Bank (ECB) President Christine Lagarde saying it would focus on buying bonds and cheap loans to support the economy.
The pound, on the other hand, traded flat around the price level of 1.3200 against the USD. Reports that the UK and the European Union (EU) may not be able to reach an agreement before next week's deadline, have stifled pound movements to rise higher.
The Aussie dollar, however, failed to continue to rise following vaccine reports due to its growing trade tensions with China. Beijing has stopped importing all timber from Victoria, Australia forever.
While the kiwi dollar continued to rise higher, it was still influenced by the Reserve Bank of New Zealand (RBNZ) decision which reduced investor expectations for negative interest rates.
