The US dollar was firm today but traded well below peaks hit on a wild ride higher overnight, as a new coronavirus strain in Britain sent jitters through holiday-thinned currency markets. The UK pound fell by 2.5 percent to US$1.3190 as countries from Europe to Asia sealed off travel links with Britain to try and contain the highly-infectious mutation. Low liquidity exaggerated dollar gains in other currencies, too, as short sellers bailed out. But moves largely unwound as investors took their chance to buy in to the dollar's downtrend. The yen was steady at 103.30 per dollar and the Australian and New Zealand dollars a little soft with the nervous mood, but well above overnight lows.

Source: The Standard December 22, 2020 03:11 UTC