Development of coronavirus pandemic was the main driver in rather dull markets last week. Just when it looked like risk-off was back on second wave of infections, markets were saved by news from Gilead Sciences regarding the test results on redmesivir. NASDAQ has extended its record run, helping treasury yields and other stock index rebounded on Friday. The picture in the currency markets were relatively mixed. Sterling ended as the strongest one, followed by New Zealand dollar and then Yen. Canadian Dollar was the weakest, followed by Dollar and then Aussie. Price actions in most dollar and Yen pairs are corrective looking. Some more time is still needed for the markets to sort out a clear direction. |
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