eFXdata reports that MUFG Research discusses the impact of the vaccine news on the FX market. 

"Admittedly, there are still many uncertainties at this stage. According to vaccine experts, questions about production, distribution and, most importantly, the performance and capability of the shot itself still need to be answered including how long will it provide protection for and is it as effective for all age ranges. Nevertheless, it is still an important step forward to exit the COVID crisis and provides a reminder not to bet against human ingenuity," MUFG notes.

"Further positive progress on vaccines will allow currencies which have been hit hard by the COVID crisis to continue to rebound," MUFG adds.