In currencies, Sterling was the day's big mover, gaining on both the euro and the dollar as what last week had appeared to be evaporating prospects of a Brexit agreement came back to life. — Reuters pic
However, some traders noted that optimism about the vaccine had already been factored in, limiting upside for investors. The Dow Jones Industrial Average, after a sharp climb in early trading, fell 184.82 points, or 0.62 per cent, to close at 29,861.55. The S&P 500 lost 15.97 points, or 0.44 per cent, to 3,647.49 and the Nasdaq Composite added 62.17 points, or 0.5 per cent, to 12,440.04.
The pound was last trading at US$1.3321, up 0.73 per cent on the day after earlier climbing 1.2 per cent to US$1.3423. The euro was last up 0.30 per cent, at US$1.2147. “The risk is then if the Fed does unveil a surprise twist at this meeting, then Treasuries could rally and the USD could fall,” said Tapas Strickland, a director of economics at NAB.
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