Australian dollar falls on renewed fears over Omicron

The Australian dollar fell against most  currencies on Monday, due to renewed fears over the Omicron variant.

The UK's health authorities reported the first death caused by the Omicron variant, which raised fears of the return of lockdown restrictions, especially as Omicron is known for its ability to spread and resist vaccines.

The Federal Reserve's monetary policy meeting will launch tomorrow for two days, followed by the monetary policy statement and decision.

The US consumer price index rose by 0.8% in November after rising by 0.9% in October, higher than forecasts of a rise by 0.7%.

The year-on-year reading rose to 6.8% in November, the highest level since June 1982.

As of 16:43 GMT, AUD/USD fell by 0.7% to 0.7121.