Omicron variant rocks markets – WorldFirst UK blog

Good afternoon,

The British pound has seen a few tough trading sessions after markets were rocked by fears over the latest strain of Covid-19. The latest wave of cases in southern Africa, driven by the new Omicron variant, is leading countries around the world to impose new restrictions.

In the UK, face masks will be mandatory in shops and on public transport, while international arrivals are expected to undergo PCR testing from Tuesday.

Health Secretary Sajid Javid called the rules Boris Johnson announced to tackle the variant as “proportionate and balanced”. Javid also said the measures would help ensure that people can “enjoy Christmas with our families”.

As might be expected, risk sentiment took a hit, helping the US dollar rebound across the board as markets turned to safe havens amid the uncertainty.

Have a nice day.

Author: William Jones, Senior Director of Relations.

While every effort is made to ensure the accuracy of the information posted here, you should confirm the latest exchange rates with WorldFirst before making a decision. The information published is of a general nature only and does not take into account your personal goals, financial situation or specific needs. Full disclaimer available here.


The references

https://www.theguardian.com/world/2021/nov/28/sajid-javid-were-nowhere-near-imposing-social-distancing-covid-rules

https://www.fxstreet.com/news/gbp-usd-remains-vulnerable-below-13350-amid-omicron-fears-brexit-woes-202111290256

https://www.bbc.co.uk/news/uk-59449480

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