Forex

Aussie rises as concerns over Omicron ease

2022-01-04 18:01:06 GMT (Economies.com)

The Australian dollar rose against most currencies on Tuesday, as concerns about the Omicron variant eased, despite the recent surge in infections.

 

The markets are following the coronavirus pandemic developments, as daily infections in many countries around the world continue to increase, especially due to the Omicron variant.

 

Observers believe that a "corona tsunami" in the US means that infections are rising by 1 million cases every day, which has already happened during the past 24 hours.

 

Meanwhile, countries in Europe, including France and the UK, are seeking to control the record spike in infections.

 

British Prime Minister Boris Johnson said that his country has an opportunity to contain the coronavirus without the need to impose a full lockdown.

 

Data showed today that Australia's commodity price index rose 25.7% during the past month, from 36.7% in the previous reading.

 

As of 17:59 GMT, AUD/USD rose 0.7% to 0.724, and hit a high of 0.7250 and a low of 0.7182

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