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Health Canada announced on Wednesday that it approved the COVID-19 vaccine developed by Pfizer Inc and BioNTech to be used in Canada. 

“The approval of the vaccine is supported by evidence that it is safe, effective and of good quality,” Health Canada said in a statement, as reported by Reuters. Currently, the country has an order for 20 million doses in place with the option of purchasing up to 56 million more. 

Market reaction

This development failed to provide a boost to the CAD. As of writing, the USD/CAD pair was down 0.08% on the day at 1.2803.