Just as investors began to calm down from concerns about the Omicron variant, the latest statement from Moderna’s CEO again sparked unrest in the market.
Most recently, Stephane Bancel said the existing Covid-19 vaccine is unlikely to provide the same level of protection against Omicron as it has done against other variants before.
Following the statement, treasury yields slipped lower at 1.42%, and dragged the greenback dollar trading to a one -week low against its main competitor.
The weakness of the US dollar has benefited the safe-haven yen and swiss franc to return to two-week highs.
While risk -sensitive currencies were also affected by Moderna’s CEO statement, bringing the Aussie dollar and kiwi trading back down to its lowest levels this year.
Even so, European currencies displayed a different reaction to rising higher, capitalizing on the decline recorded by the greenback dollar.
The euro rose higher at around 1.1350, in addition to gaining support from the expected surge in the European Zone inflation data that will be released at 6 pm this evening.
Earlier, German inflation data showed the consumer price index rose the highest since 1997, while in France, inflation rose to a 13 -year high.
The pound sterling also appreciated against the USD, but declined against the safe-haven yen, signaling the currency was gaining support from the greenback’s fall.
