Dollar slightly higher, market readjusts after Omicron shock

Dollar slightly higher, market readjusts after Omicron shock
Dollar slightly higher, market readjusts after Omicron shock

LONDON (Reuters) – Dollar up slightly, euro down and yen little moved as the currency market readjusted after last Friday’s session in which safe-haven currencies were the protagonists of strong purchases thanks to fears over the spread of the new Omicron variant .

Omicron, discovered in Southern Africa, has reignited fears that global growth may slow down.

WHO said it is still unclear whether the new variant, which has meanwhile spread to many countries around the world, is more easily transmitted than the others or whether it causes more severe symptoms.

Markets have meanwhile calmed down partly thanks to the rebound in Wall Street futures and crude oil prices as investors try to assess the potential effects of the new mutation with a cool head.

The dollar index, which last Friday recorded its largest daily decline since May, rises slightly and at 10.25 it is trading up 0.15% to 96.232.

The euro, which appreciated against the dollar on Friday, lost about 0.3% to 1.1286 while the yen rose about 0.01% against the dollar to 113.33.

The Swiss franc reverses course: while on Friday it recorded its largest daily rise against the dollar since June 2016, in early European trade it lost around 0.4% to 0.9256.

Source

Dollar slightly higher market readjusts Omicron shock

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