USD – The dollar fell against several of its major counterparts on Wednesday, as easing concerns about the economic hit from the Omicron COVID-19 variant helped support riskier currencies.
Caxton notes that “concerns about Omicron appear to be fading slightly, particularly as increasing – albeit unconfirmed – data emerges pointing to infections caused by the new variant being milder than previously thought.”
CAD – The Canadian dollar was little changed against the greenback on Wednesday as the Bank of Canada disappointed some investors that had expected a shift to a more hawkish stance, with the currency pulling back from its strongest level in nearly three weeks.
Commenting on CAD following the BoC’s announcement, analysts at Monex stated that “the Canadian dollar mildly weakened on the back of the release as there was no material upgrade to the Bank’s October projections in the statement. Growth risks brought about by the latest COVID variant, and the recent British Columbia crisis meant policymakers kept a fairly noncommittal tone.”
Caxton notes that “concerns about Omicron appear to be fading slightly, particularly as increasing – albeit unconfirmed – data emerges pointing to infections caused by the new variant being milder than previously thought.”
CAD – The Canadian dollar was little changed against the greenback on Wednesday as the Bank of Canada disappointed some investors that had expected a shift to a more hawkish stance, with the currency pulling back from its strongest level in nearly three weeks.
Commenting on CAD following the BoC’s announcement, analysts at Monex stated that “the Canadian dollar mildly weakened on the back of the release as there was no material upgrade to the Bank’s October projections in the statement. Growth risks brought about by the latest COVID variant, and the recent British Columbia crisis meant policymakers kept a fairly noncommittal tone.”