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29 Nov 2021

Dollar Up after Omicron Shocks Die Down; Volatility Still Remains

The Index Today

As investors slowly started to move past the shock of the new omicron virus strain, dollar showed signs of recovery and went up on Monday morning in Asia. The U.S dollar climbed up slightly 0.19% to 96.290 by 10:52 PM ET.

The omicron will increase uncertainty with regards to the Fed Banks interest rate hike decisions and policymaking. The USD/JPY pair went up 0.33% to 113.68. The AUD/USD pair climbed up 0.27% to 0.7143 after the Australian dollar began recovering.

The news of the new omicron variant last week has led to panic and closure of borders, affecting stocks and currencies. According to experts, BioNTech and Pfizer need two weeks more to determine if the vaccine if effective on the new strain.

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