UK gov asked MHRA regulator to assess Oxford/Astrazeneca covid-19 vaccine for temporary supply

Ross J Burland FXStreet

Reuters has reported that Britain on Friday asked its medicine regulator to assess Oxford University and AstraZeneca's AZN.L COVID-19 vaccine candidate for temporary supply, a step towards beginning a roll-out before the end of the year.

''AstraZeneca expects 4 million doses to be available in Britain by the end of next month, and health minister Hancock is targeting the roll-out to begin before Christmas,'' Reuters wrote.

"We have formally asked the regulator to assess the Oxford/AstraZeneca vaccine, to understand the data and determine whether it meets rigorous safety standards," Hancock said in a statement, reported by Reuters.

"This letter is an important step towards deploying a vaccine as quickly as safely possible."

More key notes

''Britain's Medicines and Healthcare products Regulatory Agency (MHRA) is already assessing the vaccine in a "rolling review" as data comes in on safety and efficacy.''

''Hancock has also asked the MHRA to approve the Pfizer/BioNTech candidate after it was shown to be 95% effective.''

''Oxford and AstraZeneca AZN.L published interim efficacy results on Monday, which showed that the vaccine could be 90% effective when given as a half dose followed by a full dose.''

''Questions have been raised about the Oxford/AstraZeneca data and the robustness of that result, though the MHRA approved the use of the half-dose/full-dose regime a subgroup received in the trial.''

''Britain's top science adviser said on Thursday that the interim results showed the Oxford/AstraZeneca vaccine worked.''

Market implications

The pound is already solid on the prospects of a Brexit breakthrough and a faster economic recovery pertaining to a vaccine.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD remains bid near 1.1650 post-US ADP

Finally some respite for the risk complex see EUR/USD partially recover from the recent steep sell-off, this time hovering around the 1.1650 zone amid decent gains in a context of renewed selling pressure on the US Dollar. However, the duration and extension of this bounce should be put to the test amid the unabated tensions in the Middle East.

GBP/USD meets resistance around 1.3400

In line with its risk-linked peers, GBP/USD stages a modest comeback on Wednesday, although meeting some resistance around the 1.3400 neighbourhood. Cable’s humble recovery comes on the back of the fresh downward bias in the Greenback amid a marginal improvement in the global sentiment and steady geopolitical effervescence.

Gold flirts with $5,200 amid safe haven demand

Gold partially fades Tuesday’s sharp pullback, regaining the $5,200 mark per troy ounce on the back of the resurgence of investors’ demand for the safe-haven space. The precious metal remains well propped up by the deterioration of the geopolitical scenario in the Middle East, while the softer tone in the US Dollar collaborates with the uptick.