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Adding to the covid vaccine optimism in the European Union (EU), Pfizer and BioNTech said in a statement on Monday, that the bloc is exercising an option to secure additional 100 million doses from the pharma giants, Reuters reports.

Expectations of stronger 2H-2021 economic recovery amid higher vaccination rates in the EU drove Europe’s STOXX 600 to reach a record high while the EUR/USD pair got the shot in the arm from the news.

The main currency pair finally broke above the 1.2000 barrier, now trading near fresh seven-week highs of 1.2032, up 0.34% on the day.

Read:  EUR/USD advances to fresh tops above 1.2000