Dollar Begins 2022 Strong As COVID-19 Rattles On

Despite the dollar’s strength on Monday morning in London, holidays in many Asia Pacific markets meant that 2022 started quietly. Due to holiday closures in Japan, China, Australia, and New Zealand, and thin trade, it’s difficult to determine the real movements in the dollar.

In addition, as the global spread of the Omicron COVID-19 variant continues to impact sentiment, investors are seeking safe-haven assets. Despite the decline in cases in Xi’an, Johns Hopkins University data shows that there were 290 million cases worldwide as of January 3.

The U.S. Dollar Index, which measures the greenback against a basket of other currencies, was up 0.29% to 95.870 in early London trading.