Astrazeneca Share News (AZN)

* Suga set to succeed Abe as Japan PM, focus turns to new cabinet
* Dollar falls to two-week low vs yen
* Dollar under pressure ahead of Fed policy meeting outcome on Wed
* Fed expected to reinforce near-zero rates until 2023
* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E

(Adds new comment, updates prices)
By Gertrude Chavez-Dreyfuss
NEW YORK, Sept 14 (Reuters) - The dollar slipped on Monday against its major peers, dropping to a
two-week low versus the yen, as positive news about a COVID-19 vaccine and a wave of merger and
acquisition deals lifted the mood in global equity markets.
Investors also looked ahead to an event-packed week which includes a Federal Reserve meeting and the
appointment of a new Japanese premier.
U.S. stocks rose on Monday on signs of progress in developing a COVID-19 vaccine and a flurry of
multibillion-dollar deals, including reports of Oracle winning the battle for the U.S. arm of
TikTok.
Drugmaker AstraZeneca on Monday said it resumed its British clinical trials of its COVID-19
vaccine, one of the most advanced in development, helping kick off a rally in stocks.
"There's some positive traction on the coronavirus vaccine and that has helped lift the market," said
Amo Sahota, executive director at currency advisory firm Klarity FX in San Francisco.
"Generally I would call it a soft, upbeat day. I don't know if we have learned anything significantly
new today that would give us any indication about trend building. Today it's a day that's more supportive
of equities, and so the dollar weakens off," he added.
In afternoon trading, the dollar index fell 0.3% to 93.029, after posting two straight weeks of
gains.
Speculators trimmed net short dollar positions for the second straight week to $32.67 billion,
according to Reuters calculations and Commodity Futures Trading Commission data. That's off nine-year
highs of $33.68 billion in late August.
This week's Fed Reserve meeting will be its first since Chairman Jerome Powell unveiled a policy shift
toward greater tolerance of inflation, effectively pledging to keep interest rates low for longer.
"The updated 'dot-plot' is expected to reinforce the message that the current zero-interest-rate
policy stance is appropriate through 2023," said NatWest in its latest research note, a scenario that is
negative for the dollar.
Fed officials' median projection on the number of rate moves is commonly referred to as its
"dot-plot."
The dollar fell 0.4% against the yen to 105.70 yen, after earlier sliding to a two-week low.
The Bank of Japan's meeting on Thursday is not expected to yield any policy changes but the bank may
be quizzed on whether it could follow the Fed's inflation stance.
On the political front, Chief Cabinet Secretary Yoshihide Suga was picked to head Japan's ruling party
on Monday, meaning on Wednesday in parliament he is set to be selected by his peers as prime minister,
taking over from Shinzo Abe.
Suga has vowed to continue Abe's policies.
The euro was up 0.2% versus the dollar at $1.1867.
The single currency had spiked to a one-week high above $1.191 after Thursday's European Central Bank
meeting, before easing back as policymakers talked it down the next day.

Currency bid prices at 3:36 PM (1936 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR= $1.1866 $1.1845 +0.18% +5.85% +1.1887 +1.1831
Dollar/Yen JPY= 105.6900 106.1400 -0.42% -2.91% +106.1900 +105.5600
Euro/Yen EURJPY= 125.42 125.75 -0.26% +2.85% +125.9000 +125.2900
Dollar/Swiss CHF= 0.9080 0.9086 -0.07% -6.18% +0.9098 +0.9060
Sterling/Dollar GBP= 1.2862 1.2793 +0.54% -2.99% +1.2918 +1.2778
Dollar/Canadian CAD= 1.3175 1.3174 +0.01% +1.46% +1.3196 +1.3154
Australian/Doll AUD= 0.7294 0.7283 +0.15% +3.89% +0.7303 +0.7265
ar
Euro/Swiss EURCHF= 1.0775 1.0764 +0.10% -0.71% +1.0776 +1.0758
Euro/Sterling EURGBP= 0.9224 0.9254 -0.32% +9.11% +0.9263 +0.9202
NZ NZD= 0.6705 0.6664 +0.62% -0.46% +0.6717 +0.6660
Dollar/Dollar
Dollar/Norway NOK= 9.0281 9.0336 -0.06% +2.84% +9.0531 +8.9861
Euro/Norway EURNOK= 10.7140 10.7024 +0.11% +8.91% +10.7269 +10.6716
Dollar/Sweden SEK= 8.7631 8.7687 +0.08% -6.25% +8.7881 +8.7539
Euro/Sweden EURSEK= 10.4001 10.3916 +0.08% -0.66% +10.4220 +10.3756


(Reporting by Gertrude Chavez-Dreyfuss; editing by Jonathan Oatis)