Mask Mandates Materialise

The GBP/EUR exchange rate is back below 1.18 following four successive days of declines that are linked to fears the Omicron Covid variant will spell another sharp global economic slowdown.

EUR/USD has climbed back above 1.1300 after falling sharply to mid-1.1200s late Tuesday this may also be due to growing cases of Omicron variant in Europe as well as Fed Chairs Powell’s inflation comments.

GBP/USD tops out around 1.3325 heading into Wednesday’s London open. The cable pair refreshed yearly low on Tuesday before closing November with static daily performance and the heaviest monthly fall since last September.