Not a great sign
AstraZeneca was out with a statement on Sunday saying there were no safety problems with its vaccine. Evidently, the Germans aren’t convinced or want more time to review the data and they’ve will stop using the vaccine, at least temporarily.
At this point, there’s been some major reputational damage for this particular vaccine. It’s also the least-effective at preventing infections.
The FX implication here is euro-negative because the eurozone’s best shot at getting the vaccine sooner is via this vaccine. It also potentially extends the timeline globally.
Ultimately, I think it gets approved but this certainly isn’t good news.