The United States on Wednesday identified its first case of the omicron variant, putting more pressure on markets, although much is still unknown about the new mutation.
“Investors appear to be taking a breather this Thursday morning from what could be the eye of the storm,” Citi currency analysts said in a note sent to clients.
The dollar index, which measures the performance of the greenback against a basket of six currencies, was practically flat on the day at 96,035 units.
The index fell last week after news of the omicron variant first surfaced, though it remains near a 16-month high of 96,938 units reached last month.
Traders are also waiting for clarity on how quickly the Federal Reserve will reduce its asset purchases, as central banks around the world grapple with plans to withdraw their stimulus programs amid skyrocketing inflation.
Fed Chairman Jerome Powell reiterated in his testimony to Congress on Wednesday that he and other governors will consider accelerating withdrawal plans at their December 14-15 meeting.
Among other currencies, the euro was stable against the US currency at $ 1.13205. The yen, which strengthened last week as investors sought havens, lost some of its recent gains against the dollar, falling 0.4% to 113.26 points.
Source From: Ambito
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