December 28, 2021

The Rise of the Worldwide Covid-19 Case Returns Investors

 The greenback showed a slight increase in the European session, as well as showing that risky currency trading began to decline following the latest developments on Covid-19.

The Aussie dollar retreated from a one -week high following reports of coronavirus cases in Australia that for the first time hit more than 10,000 since the pandemic began.

New South Wales (NSW), the state with the highest population in Australia reported 6,324 cases on Monday., While also confirming the first death due to the Omicron variant.

The latest threat from Omicron is likely to make the economic recovery in some countries be affected even though it was initially reported not to carry serious illness compared to the Delta variant.

Due to its highly contagious nature, countries around the world are at risk of recording a sharp increase in Covid-19 cases.

This has indirectly caused investors to worry about its impact on the global recovery.

During the European session, the dollar index showed a rise to around 96.20 following the pullbacks of several major currencies.

Meanwhile, the pound remained maintaining its strength at 1.3400 despite facing the threat of the implementation of tighter sanctions ahead of the New Year in England.

Meanwhile, the euro traded slightly lower but still strengthened above 1.1300 amid rising cases of Covid-19 infection in Europe.