Even a Drop in Risk Appetite Couldn’t Stop the Euro or US Dollar From Making Gains

On Monday, the Pound started the day in a firm position as investors found some confidence in the currency after the announcement of the rapid booster plan for vaccinations.

Despite this, the Pound lost these gains against its rivals later in the day as news about the current spread of Omicron manager to put a cap on any gains. As a result, the Pound finished at 1.171 against the Euro and 1.3213 against the US Dollar according to the Foreign Exchange Market.

The Euro dipped at the start of trading yesterday although it did manage to make up for these losses during the afternoon. This is because its negative correlation with the US Dollar caused some level of volatility. Furthermore, it also managed to make gains against its riskier rivals which put the single currency in a strong position.

The US Dollar nudged higher yesterday against a number of rivals as risk-off market mood gave the safe-haven currency a boost. Despite this, a drop in Us Treasury yields placed pressure on the Greenback and that saw it lose ground against the Pound and Euro during the session.


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