Home Business The pound falls close to an 11-month low amid Omicron concerns

The pound falls close to an 11-month low amid Omicron concerns

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The British pound fell near its 11-month low on Monday as investors weighed the implications of the discovery of the new Crown mutation, Omicron, on the outlook for the British economy.

And the pound fell 0.31%, against the US currency, to $ 1.3299 by 4:04 PM GMT, not far from its December 2020 low of $ 1.3278.

Against the European currency, the British currency fell 0.12%, to 84.72 pence per euro.

The dollar index, which measures the performance against six major currencies, the US currency recorded 96.204 after falling to a one-week low of 95.973 on Friday.

Although the dollar has benefited from uncertainty due to its safe-haven status, this uncertainty affects expectations of when the Federal Reserve and other global central banks may raise interest rates.

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