While COVID-19 has infected more than 25 million people worldwide as of today, Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases may have just given markets a positive to start the week off on the front foot.
Fauci has said that a vaccine could be here as soon as November.
Key comments
"The way the pace of the enrolment is going on and the level of the infections that are going on in the United States, it is likely that we’ll get an answer by the end of the year.
"It is conceivable that we would get an answer before that.
"I would say a safe bet is at least knowing that you have a safe and effective vaccine by November, December,” he told the Times newspaper in the U.K. He declined to comment on what vaccine could be a front-runner, but added, “I would not be satisfied until a vaccine was proven to be safe and effective before it was actually approved for general use."
Market implications
The US stock market closed last week on a strong standing which should buoy the Asian session at the start of the week.
Additional hopes for a vaccine is positive as well which could the catalyst for a bid back into USD/JPY.
More on the US stock market here: S&P 500 Weekly Forecast: Best August since 1986, how will September start?
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