Australian dollar falls despite positive vaccine news

The Australian dollar fell against most of the major currencies during trading on Monday, despite positive news about Covid-19 vaccines.

AstraZeneca said that its vaccine, developed in collaboration with the University of Oxford, may reach 90% efficacy in preventing Covid-19.

AstraZeneca added that it will be able to provide 200 million doses of the vaccine by the end of this year.

This comes after Pfizer announced last week that its vaccine was effective by 95%, and Moderna's vaccine reached 94.5%.

Otherwise, Australia's manufacturing PMI rose to 56.1 points in October from 54.2 in September, and the services PMI rose to 54.9 from 53.7.

As of 17:05 GMT, AUD/USD fell 0.4% to 0.7275, after hitting a high of 0.7338 and a low of 0.7265.