USD Wants To Strengthen To Weak?

thecekodok

 The Asian session saw the greenback dollar trade slightly down after gaining support at the end of the previous session's trading.


News of the first Omicron case detected in the United States (California) has prompted the Wall Street market to be impressed, thus giving a last -minute boost to the greenback.


Even so, at the opening of the Asian session, the greenback dollar traded still moving around the same price following mixed market sentiment.


On the one hand, the US dollar strengthened in hopes the Federal Reserve (Fed) will accelerate a reduction in bond purchases that also have the potential to raise interest rates earlier than expected.



However, on the other hand, other major currencies are also supported by the statement of the World Health Organization (WHO) that the existing Covid-19 vaccine can still provide protection against Omicron variants to prevent severe disease.


The WHO also reports that so far, the new variants have only caused milder symptoms and illness.


This makes trading in the currency market limited, bringing the dollar index to hover around the price of 96.00 against its main competitors.


Meanwhile, investors have been exposed to private sector ADP employment data showing a better -than -expected reading in October, but declining from previous readings.


Examining the movement of European currencies, the euro traded steady at 1.1330, while the pound hovered at 1.3300 against the USD.

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