As Risk Sentiment Improves, $US Reverses Losses

New York, Nov 30, : As investors worry about the Covid-19 Omicron variant recedes, the US dollar rose in late trade.
According to Xinhua news agency, the dollar index, which measures the greenback’s value against six major peers rose 0.30 percent at 96.3315 in late-trading.

 As Risk Sentiment Improves, $us Reverses

Joe Biden, the US President, stated Monday that “Sooner than later, we’re gonna see cases of this variant in the US.This variant is a concern, not a reason to panic.

Biden stated that vaccines offer the best protection, and that “in the event that boosters or vaccinations are required against a new variant of the disease, we will accelerate their development.”

The yield on the US 10-year Treasury bond rose 2.05 basis points to close at 1.5 percent Monday.

“There is a feeling of relief in today’s mood as Sunday programming, other news, explained that the Omicron variant was mild’ and unlikely to force major lockdowns and inactivity,” said Tempus, a Monday note.

Late New York trading saw the euro fall to $1.1274, from $1.1313 the previous session.The British pound fell from $1.3335 to $1.3293 in the previous session to $1.3293.The Australian dollar rose to $0.7129, from $0.7118.

The $US purchased 113.71 Japanese Yuen, which is higher than the previous session’s 113.13 Japanese Yuen.The $US rose to 0.9245 Swiss Franc from 0.9217 Swiss Franc and fell to 1.2769 Canadian Dollars from 1.2783 Canadian.

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