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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca PLC    AZN   GB0009895292

ASTRAZENECA PLC

(AZN)
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Yen on slippery ground as Yellen, Trump transition news boost risk appetite

11/23/2020 | 07:25pm EST

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E

TOKYO, Nov 24 (Reuters) - The yen was on the back foot while riskier currencies were supported on Tuesday on rising optimism following news U.S. President-elect Joe Biden is expected to tap former Federal Reserve Chair Janet Yellen as U.S. Treasury Secretary.

Also underpinning the risk-on mood, President Donald Trump gave the head of the General Services Administration the go-ahead to proceed with a transition for Biden's administration despite plans to continue with legal challenges.

Yellen has called for increased government spending to boost the U.S. economy out of a deep recession brought on by the coronavirus and has frequently cited growing economic inequality in the United States as a threat to America's values and its future.

"One thing is for sure and that is there is unlikely to be as many Fed-Treasury spats," said Chris Rupkey, chief financial economist at MUFG Union Bank in New York.

"Those Fed lending facilities for municipal funding, the corporate bond market and Main Street will be coming back quickly after the December 31 expiration date."

Last week U.S. Treasury Secretary Steven Mnuchin let some of the Fed's lending programmes expire at the end of this year, opening a feud with the Fed, which said those emergency facilities are important to support the economy.

The safe-haven yen traded at 104.49 per dollar, having slipped about 0.6% overnight.

The U.S. dollar, which tends to weaken against riskier, less liquid currencies on positive market sentiment, also flirted near 12-week lows, though it has managed to find some technical support.

The dollar's index recovered a touch to 92.530 after dropping to 92.013 on Monday, the lowest since Sept. 1. A conclusive break on the dollar index below support at around 92 could bring about a fresh downturn, analysts said.

The U.S. currency's safe-haven appeal was also dented after AstraZeneca said on Monday that its COVID-19 vaccine could be about 90% effective and it would prepare to submit data to authorities around the world that have a framework for conditional or early approval.

The euro was flat at $1.18395, lacking momentum to clear a hurdle at $1.19.

The Australian dollar ticked up 0.15% to $0.7295 while the New Zealand dollar also edged 0.10% higher to test a two-year high of $0.6967 hit on Monday.

The British pound held firm near a 12-week high against the dollar and six-month high versus the euro, propped up by bets Britain and the European Union would clinch a Brexit trade deal.

London and Brussels this week continue their negotiations to agree a deal on their future trading relationship, though time is now running very short as Britain's post-Brexit transition period ends in fewer than six weeks.

The pound stood at $1.3330, having hit a high of $1.3396 on Monday. Against the euro, it traded at 0.8887 to the euro, near its six-month high touched about two weeks ago. (Reporting by Hideyuki Sano Editing by Shri Navaratnam)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC -1.48% 7664 Delayed Quote.6.21%
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) 0.19% 0.98212 Delayed Quote.0.60%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.47% 80.001 Delayed Quote.1.16%
AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR (AUD/NZD) -0.02% 1.07064 Delayed Quote.0.04%
AUSTRALIAN DOLLAR / SWISS FRANC (AUD/CHF) 0.20% 0.68141 Delayed Quote.0.90%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.27% 0.76702 Delayed Quote.0.77%
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) 0.09% 1.78879 Delayed Quote.-0.19%
BRITISH POUND / JAPANESE YEN (GBP/JPY) 0.52% 143.08 Delayed Quote.0.88%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.25% 81.453 Delayed Quote.0.62%
EURO / AUSTRALIAN DOLLAR (EUR/AUD) -0.11% 1.58072 Delayed Quote.-1.13%
EURO / BRITISH POUND (EUR/GBP) -0.19% 0.88364 Delayed Quote.-0.93%
EURO / JAPANESE YEN (EUR/JPY) 0.34% 126.461 Delayed Quote.0.02%
EURO / US DOLLAR (EUR/USD) 0.18% 1.2123 Delayed Quote.-0.92%
JAPANESE YEN / SWISS FRANC (JPY/CHF) -0.30% 0.8518 Delayed Quote.-0.18%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) 0.47% 74.72 Delayed Quote.1.17%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.16% 104.3 Delayed Quote.0.40%
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Financials (USD)
Sales 2020 26 378 M - -
Net income 2020 2 951 M - -
Net Debt 2020 13 468 M - -
P/E ratio 2020 42,5x
Yield 2020 2,65%
Capitalization 140 B 140 B -
EV / Sales 2020 5,80x
EV / Sales 2021 4,98x
Nbr of Employees 70 600
Free-Float 95,7%
Chart ASTRAZENECA PLC
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AstraZeneca PLC Technical Analysis Chart | AZN | GB0009895292 | MarketScreener
Technical analysis trends ASTRAZENECA PLC
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Average target price 127,03 $
Last Close Price 106,32 $
Spread / Highest target 47,8%
Spread / Average Target 19,5%
Spread / Lowest Target -15,1%
EPS Revisions
Managers and Directors
NameTitle
Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Pierre Jean Dunoyer Chief Financial Officer & Executive Director
Menelas N. Pangalos EVP-Biopharmaceuticals Research & Development
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