coronavirus relief, currencies and oil

SINGAPORE — Stocks in Japan were set to trade higher at the Tuesday open as investors await remarks from U.S. President-elect Joe Biden’s nominee for Treasury secretary, Janet Yellen.Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 28,380 while its counterpart in Osaka was at 28,320. That compared against the Nikkei 225’s last close at 28,242.21.Shares in Australia edged higher in early trade, with the S&P/ASX 200 up 28,242.21.Former Federal Reserve Chair Yellen is set to tell the Senate Finance Committee on Tuesday that the government must “act big” with its next Covid relief package, according to Reuters, which cited a prepared opening statement for her hearing before the committee.On the coronavirus front, the head of the World Health Organization warned Monday of a “catastrophic moral failure” due to unfair vaccine rollouts.Markets stateside were closed on Monday for a holiday.CurrenciesThe U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.779 — higher then levels below 90.4 seen last week.The Japanese yen was at 103.68 per dollar, still stronger then levels above 104.1 against the greenback seen in the previous trading week. The Australian dollar changed hands at $0.7682, off levels above $0.775 seen late last week.

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