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U.S. dollar reverses losses as threat sentiment improves

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NEW YORK, Nov. 29 (Xinhua) — The U.S. dollar rose in late buying and selling on Monday as traders’ concern over COVID-19 variant Omicron recedes.

The dollar index, which measures the buck towards six main friends, rose 0.30 % at 96.3315 in late buying and selling.

U.S. President Joe Biden on Monday mentioned, “Sooner or later, we’re going to see cases of this new variant in the United States. This variant is a cause for concern, not a cause for panic.”

Biden mentioned that vaccines stay the most effective safety and “in the event updated vaccinations or boosters are needed against the new variant, we will accelerate their development with every tool.”

The yield of U.S. 10-year Treasury bond moved up 2.05 foundation factors closing at 1.5 % on Monday.

“There is a sense of relief in today’s mood as Sunday programming and other news explained the Omicron variant was ‘mild’ and likely not to force major lockdowns or inactivity,” mentioned a observe by international change and worldwide fee options supplier Tempus, Inc. on Monday.

In late New York buying and selling, the euro fell to 1.1274 {dollars} from 1.1313 {dollars} within the earlier session, and the British pound fell to 1.3293 {dollars} from 1.3335 U.S. {dollars} within the earlier session. The Australian dollar elevated to 0.7129 dollar from 0.7118 dollar.

The U.S. dollar purchased 113.71 Japanese yen, larger than 113.13 Japanese yen of the earlier session. The U.S. dollar was as much as 0.9245 Swiss franc from 0.9217 Swiss franc, and it decreased to 1.2769 Canadian {dollars} from 1.2783 Canadian {dollars}.

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