The pound is stronger against both the euro and the dollar this morning due to reports that the Omicron variant may be less severe than the Delta variant.
The studies came from both South Africa and Britain, suggesting that Omicron poses a lower risk of being hospitalised. However, the South African study said there was no difference in outcomes for the few patients that were hospitalised with Omicron.
Sterling has, therefore, strengthened on this news. Despite this, scientists warn that a large wave of infections could still overwhelm the NHS.
This morning, the Prime Minister has urged people to take ‘extra special care’ before seeing family at Christmas.
Make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.
