Governments across the world heightened restrictions on travel, as the WHO cautioned that the new Omicron variant of the COVID-19 virus could fuel new infections.
- Cases of the variant, first reported in South Africa, have emerged in some locations from Australia to the U.K. and Canada.
- South African medical researchers stated that the Omicron appears to be highly transmissible than its predecessors.
- Meanwhile, the existing COVID-19 vaccines are likely to provide good protection against severe illness and death.
- Economists reassessed their forecasts for the global recovery as markets in Europe and Asia bounced back from the losses suffered on Friday as the variant cases were said to cause “mild” infection.
Anthony Fauci, President chief medical advisor, informed Biden that it would take around two weeks to have a more definitive understanding of the transmissibility and severity.
DXY up +0.10%, EUR USD down -0.14%Source: Bloomberg