U.S. Dollar Advances Amid Jump In Omicron Cases
December 28 2021 - 10:47PM
RTTF2
The U.S. dollar appreciated against its major rivals in the
Asian session on Wednesday, as a surge in Omicron cases across the
globe and a tightening of restrictions dampened risk sentiment.
Coronavirus cases in France jumped to a record high of 179,807
on Tuesday, a day after the government announced new restrictions
to contain infections.
Besides France, UK, Italy, Greece, Portugal and Cyprus reported
record daily infections on Tuesday.
The U.S. reported a seven-day average of 254,496 new virus cases
on Tuesday, breaking the previous record of about 251,989 daily
cases seen on January 11.
The currency was also supported by Fed rate hike expectations,
as investors predict at least three rate rises in 2022.
The greenback edged higher to 0.9179 against the franc and
114.93 against the yen, up from its early lows of 0.9163 and
114.74, respectively. The greenback is likely to find resistance
around 0.93 against the franc and 116.00 against the yen.
The greenback was trading at 1.1296 against the euro, up from a
low of 1.1314 seen at 6:30 pm ET. If the greenback rises further,
it may challenge resistance around the 1.10 level.
The greenback advanced to a 2-day high of 1.2833 against the
loonie from Tuesday's close of 1.2814. The greenback is seen facing
resistance around the 1.30 level.
The greenback rose to a session's high of 0.6789 against the
kiwi from yesterday's close of 0.6801. On the upside, 0.66 is
possibly found as its next resistance level.
The greenback firmed to a 2-day high of 0.7213 against the
aussie around 8:30 pm ET, but it has since retreated to 0.7237. The
pair was worth 0.7224 at Tuesday's close.
Looking ahead, Swiss economic sentiment index for December is
due in the European session.
U.S. pending home sales, wholesale inventories and advance goods
trade balance for November will be out in the New York session.
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