Safe-Havens – The dollar, yen and Swiss franc rose on Monday as investors grew nervous about the raging delta variant of the coronavirus that could threaten the outlook for a global economic recovery.
IG noted that “The wall of worry is being built. Lower equities, lower yields, strength in the Japanese yen and the US dollar all amount to a significant risk-off impulse in markets.”
CAD – The Canadian dollar weakened to a five-month low against it US counterpart on Monday as a worldwide surge in coronavirus cases weighed on investor sentiment, with the currency shifting into negative territory for the year.
AUD – The Australian dollar on Monday hit its lowest level against the greenback for 2021 as COVID-19 lockdowns that have restricted the mobility of almost half of the country’s population were extended to stop the spread of the delta variant.