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2022 begins with a stronger dollar as yields rise

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News Tech: As investors expect the Federal Reserve to continue raising interest rates in 2022 as the coronavirus spreads, the first trading day of the new year will be synchronized with Treasury yields on Monday. The US dollar rose against a basket of major currencies in the Omicron variants continues to impact global travel and public services, and investors remain optimistic that lockdowns will be averted. On Monday, the U.S. Food and Drug Administration approved her COVID-19 vaccine from Pfizer and her BioNTech for her third dose from her 12-year-old to her 15-year-old.

“I don’t feel risk averse today because oil is stable and stocks are still green…yields are the driver right now”. The Dollar Index rose him 0.552% and the Euro fell 0.64% to $1.1295. The dollar was on track for its biggest one-day percentage gain since March 12th. Economic data showed Markit fell to 57.7 in December from a previous reading of 57.8, but still hinted at expansion. Construction spending in November rose 0.4%, beating expectations he called for a 0.6% increase. The Japanese yen fell 0.17% against the US dollar to 115.27 per dollar, but the Sterling last traded at $1.3482 and he lost 0.35% on the day.

This reduced the time for all booster shots from 6 months after elementary school to 5 months. Yields on his 2- and 5-year U.S. Treasuries, sensitive to rate hike expectations, rose to their highest levels since March 2020. His 10-year and 5-year bond yields on the benchmark rose to their six-week highs. The US Federal Reserve is expected to start raising interest rates by mid-2022.
“The market generally has a short attention span when it comes to anything COVID-related, and it has been that way from the start,” said Eric Breger, president, and CEO of Toronto-based Breger Capital Corporation.

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However, trading volumes were expected to be low as London, Europe’s main forex trading hub is closed for a market holiday. In the wider eurozone, manufacturing activity remained resilient as factories benefited from easing supply chain restrictions and stocked up on goods at a record pace. Turkey’s annual inflation rose to 36.1% last month, the highest in President Tayyip Erdogan’s 19-year rule, revealing the extent of the currency crisis caused by the president’s unconventional rate-cutting policy. The Turkish lira recently traded 1.7% higher at 12.960 to the dollar but fell below its early low of 13.92.

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