USD and Yen Are On The Rise In Face of Delta COVID. Two major safe-haven currencies staved off decline today. They were up against the more unstable types such as Australian dollar and British pound today. Fears continue to rise concerning the resurgence of the COVID pandemic. The yen rose up to 80.05 per AUD the day before for the first time since the beginning of this year. It surged again to 80.40 early by end of trade today.
The USD fortified itself against loss and rose to precarious high of $0.73225 per AUD. to start the trading It also inclined to the highest since the beginning of the year at $1.3655 to British pound. It last stabilized at $0.73390 per AUD and $1.36685 per pound. The yen reached farther than the USD today by rising to 109.07 per USD. The euro did not do as well as the USD today, however. It fell in overnight trade to the lowest it has been since early April. It sunk to $1.1764 before the end of the day at $1.17965. The virulent Delta variant of COVID is now the quickest growing strain worldwide. The United States has been recording worrying numbers of cases around the country these past few weeks.
In other news, Boris Johnson’s ‘freedom day’ ended over a year of lockdown restrictions in England. – Unfortunately, rising infection rates around the country tarnished the day’s festivities. Health Minister Sajid Javid tested positive for Coronavirus infection as well. Half of all Australians are living with renewed restrictions and lockdown policies because of Delta strain.
“What is likely concerning markets now is a surge in infections occurring in developed markets with high levels of vaccination,” National Australia Bank analyst Tapas Strickland remarked.
“That suggests virus restrictions may need to be in place for longer,” delaying the global recovery, he said. USD and Yen Are On The Rise In Face of Delta COVID, and MetaNews is tracking.