Currencies Stabilize After Turmoil as Omicron Panic Subsides
- Dollar posts gains against yen and euro, commodity FX recovers
- South African rand rises as variant symptoms seen to be mild
WATCH: Omicron Variant May See Markets Soften a Little: Zaman
Source+ Bloomberg
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The foreign-exchange market stabilized after Friday’s volatility amid signs the Omicron coronavirus variant causes only mild symptoms and vaccine reformulations against it can be achieved quickly.
The U.S. dollar rose against the yen and euro during Asian trade. The currency of South Africa, where the variant was identified, rose as much as 1.3% against the greenback, and Mexico’s peso echoed those gains. The Australian dollar advanced against the U.S. currency and yen on short-covering as part of a broader recovery in commodity currencies.