- Advertisement -Newspaper WordPress Theme
UncategorizedDollar Up, Yen at One-Month Low as Omicron Worries Lessen By Investing.com

Dollar Up, Yen at One-Month Low as Omicron Worries Lessen By Investing.com

© Reuters.

By Gina Lee

Investing.com – The dollar was up on Tuesday morning in Asia. Meanwhile, the yen traded near a one-month low to the U.S. currency as uncertainty about the omicron COVID-19 variant was largely consigned to the background, and investors’ risk appetite improved.

The that tracks the greenback against a basket of other currencies inched up 0.02% to 96.110 by 10:15 PM ET (3:15 AM GMT).

The pair inched up 0.06% to 114.90, with the yen falling as far as 114.935 against the dollar for the first time since Nov. 26 and approaching the year-to-date low of 115.525 hit on Nov. 24.

in Japan also said that grew a better-than-expected 7.2% month-on-month in November. It also said that the was 1.15, while the was 2.8%, in November.

The pair inched down 0.01% to 0.7234, with the riskier Australian dollar inching up back towards the three-week high it hit on Friday. The pair inched down 0.01% to 0.6807, with New Zealand and Australian markets closed for a holiday.

The pair inched up 0.03% to 6.3722, with the People’s Bank of China reiterating on Monday that the yuan exchange rate will be more flexible in 2022 and will remain stable overall at a reasonable and balanced level.

The pair inched down 0.06% to 1.3429.

U.S. shares were on an upward trend, with the closing at a record high on Monday. The safe-haven U.S. dollar remained near toward the bottom end of its recent trading range, even as a hawkish tilt by the U.S. Federal Reserve at its latest policy meeting earlier in the month.

“Markets globally are optimistic” that omicron won’t derail an economic recovery, denting demand for haven currencies, predominantly the yen, Citigroup (NYSE:) Global Markets Japan head of G10 FX strategy Osamu Takashima told Reuters.

The U.S. equities rally “implies that currently investor risk appetite must be very, very strong” despite expectations for faster Fed tightening, he added, predicting that the yen is likely to test its 2021 low in the near term.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Please enter your comment!
Please enter your name here

Subscribe Today





Get unlimited access to our EXCLUSIVE Content and our archive of subscriber stories.

Exclusive content

- Advertisement -Newspaper WordPress Theme

Latest article

More article

- Advertisement -Newspaper WordPress Theme