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Dollar Up, Investors’ Christmas Wish is for Omicron, Central Bank Clarity By Investing.com

By on December 13, 2021 0

© Reuters

By Gina Lee

Investing.com – The dollar was higher on Monday morning in Asia, starting the week quietly ahead of a series of key central bank policy decisions, including the, throughout the week.

The price following the greenback against a basket of other currencies edged up 0.12% to 96.190 by 11:49 pm ET (4:49 GMT).

The pair edged up 0.15% to 113.54.

The pair edged up 0.06% to 0.7175 while the pair edged down 0.01% to 0.6797.

The pair edged down 0.09% to 6.3625.

The pair edged down 0.16% to 1.3247, with the pound reacting to the British Prime Minister’s warning on Sunday that the UK is facing a “tidal wave” of COVID-19 omicron cases, with two doses of vaccine insufficient to contain the variant.

Markets have been volatile since the discovery of omicron, due to concerns about its impact on the economic recovery. However, reports that the variant may not be as bad as feared saw investors pull back from safe-haven assets last week.

“All I want for Christmas is clarity” Barclays (LON 🙂 Barclays analysts titled a research note.

The Fed kicks off central bank meetings on Wednesday, with six of the G10 central banks and a number of emerging market central banks scheduled to meet throughout the week.

Central banks will have to strike a difficult balance between omicron-induced uncertainty and high inflation levels,” the Barclays note said.

The Fed is expected to accelerate its asset reduction and potentially accelerate interest rate hikes. According to the CME Group (NASDAQ 🙂 FedWatch program, investors now see more than a 50% chance of an interest rate hike by May 2022.

“The Fed meeting could certainly be the catalyst for a drop to 1.10. Although investors may prefer to wait until the next day before continuing the movement. USD / JPY could also press 115 after the Fed “ING analysts said in a note.

The ECB, the, and will also make their political decisions throughout the week.

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