U.S. dollar Recovers in the Face of Omicron

The U.S. dollar recovered from yesterday’s decline after reports that the Omicron variant is spreading and oil prices are falling, affecting commodity currencies.

Meanwhile, the dollar index rose 0.3% to 96.07 against the major currencies in the basket and gained against the Canadian dollar, Australia, New Zealand, the euro and the British pound.

  • Japanese Yen down 0.3% to 112.875 yen per dollar.
  • The euro was down 0.2% today to $1.3280.
  • The British pound, often viewed as a risky currency, fell 0.2% at 1.3276.
  • The Australian dollar fell 0.4% to $0.70103.
  • The New Zealand dollar fell 0.3% to $0.6805.
  • The baht is at the level 33.71 baht per dollar.

On top of that, the dollar recovered after a report from the Institute of Supply Management showed that manufacturing in the U.S. recovered in November. Given the strong demand for products, inflation remains high as various factories are still suffering from a shortage of raw materials related to the pandemic and politics.

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