26.05.2020 Usd/Jpy Daily Analysis

26.05.2020 Usd/Jpy Daily Analysis

Usd/Jpy today is trading at 107.67, it fell down with  0.02 mainly because investors are edging out of this safe haven amid optimism over the global recovery given positive news of a potential coronavirus vaccine as well as the further reopening of economies. Late Monday US biotech company Novavax said it has begun trials for a coronavirus vaccine in Australia. It expects preliminary results from the Phase 1 clinical trial in July and upon successful completion Phase2 will be conducted in several countries, including the United States. Novavax is one of many drug makers around the world racing to find a way to fight a pandemic that's infected over 5 million people worldwide. This followed news that a drop-off in virus cases led the Japanese government to end its state of emergency, adding to the increasing number of countries that are reopening their economies as the course of the coronavirus slows making the yen stronger than the US dollar hence the reason why  Usd/Jpy pair is trading lower today.