The gains in the yen and the franc came at the expense of the growth-sensitive Australian dollar and Norwegian crown, though thinner volumes after Thursday's U.S. Thanksgiving holiday made market moves more volatile. The World Health Organization (WHO) said it was designating the variant, named omicron, as being "of concern," a label applied only to four variants to date. One of the main gainers was the yen, which bounced off five-year lows hit this week against the greenback, and jumped almost 2% to a high of 113.09, its best day since March 2020.
News of a new coronavirus variant potentially resistant to current vaccines sent investors dashing for the safety of the Japanese yen and the Swiss franc on Friday, while the possible unwinding of U.S. rate hike bets weighed on the dollar. The yen and franc gains came at the expense of the growth-sensitive Australian dollar and Norwegian crown though thinner volumes after Thursday's U.S. Thanksgiving holiday made market moves more volatile. Little is known of the new COVID-19 variant, detected in South Africa, Botswana and Hong Kong.
(Bloomberg) -- Most Read from BloombergStartup Fever Is Gripping the World’s Last Big Untapped NationHong Kong's New Museum Tries to Please Art World — and BeijingA Denser City, But at What Cost?An Oil Company Went Up in Flames, Burning Lenders and the PlanetElizabeth Holmes Faces Last-Ditch Chance to Testify at TrialThe Swiss franc hit its strongest level against the euro in more than six years as a renewed surge of Covid-19 infections in Europe buoyed demand for haven assets.The Swiss currency