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Having heard about near 90% efficacy of Novavax coronavirus (COVID-19) vaccine, UK PM Boris Johnson crossed wires while teasing its entry to the UK’s jab store. The Tory leader signaled that the British drug regulator, Medicines and Healthcare products Regulatory Agency (MHRA), has already started examining the vaccine for its usage after the successful phase 3 trials in the UK.

Separately, the BBC’s Iain Watson tweeted that the UK government has already ordered 60 million doses of Novavax vaccine but it is yet to be approved.

Early in Asia, Novavax conveyed upbeat results of its phase 3 trials for the covid vaccine. However, the pandemic’s cure has less promising results while testing for the virus variant initially found in South Africa.

FX implications

While the news should ideally add to the market optimism and help GBP/USD, the quote eases off-late, currently around 1.3725, as cable traders might be cautious over further EU-UK on the vaccine grounds. The bloc already hates the shortage of vaccines at home and has earlier pushed Britain to make up for the short-fall, which in turn should weigh on GBP/USD.