While concerns about the discovery of a new variant of Covid-19 are seen to have eased a bit, investors are seen still taking a cautious approach in placing positions in today’s trading session.
While most countries around the world are taking swift steps to impose border restrictions, unfortunately, Omicron variants have been spotted in Australia, the UK, Canada, Germany, Scotland and Hong Kong.
This raises concerns about the possibility that the variant deemed alarming by the World Health Organization (WHO) has spread widely around the world.
These concerns have benefited safe-haven currencies, including the U.S. dollar. However, the latest risks from this variant have somewhat obscured the prospects for the Federal Reserve (Fed) to raise interest rates as investors had hoped.
During the European session, the greenback dollar was slightly weaker against most other major currencies, bringing the dollar index traded hovering around the price of 96.20.
Meanwhile, the pound rose slightly from an 11 -month low against the US dollar. Despite rising, but the currency is still under pressure from the lack of progress achieved in post-Brexit negotiations and the dovish attitude of the Central Bank of England (BOE).
Meanwhile, the euro still maintained some of its gains on Friday, but still traded around a 16 -month low against the US dollar, at 1.1280 as investors awaited European inflation data.
