The pound sterling has had a difficult couple of trading sessions after markets were rattled by fears over the latest Covid-19 strain. Southern Africa’s latest surge of cases, driven by the new Omicron variant, is leading countries around the world to impose new restrictions.
In the UK, face masks will be compulsory in shops and on public transport, while international arrivals are expected to have to take PCR tests from Tuesday.
Health Secretary Sajid Javid described rules announced by Boris Johnson to combat the variant as “proportionate and balanced”. Javid also said the measures would help to ensure that people can “enjoy Christmas with our families”.
As would be expected, risk sentiment took a hit, helping the rebound in the US dollar across the board as the markets turned to safe havens amid the uncertainty.
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Author: William Jones, Senior Relationship Manager.
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