China’s RRR cut, diminished Omicron angst and the RBA's upbeat economic outlook helped boost Aussie above its 10-DMA at 0.7092, putting the 30-DMA at 0.7274 in sharper focus. AUD/USD moved was trading at 0.7177, up 0.82% in late-U.S.
Diverging U.S.-UK rates kept the pound on the backfoot versus the dollar, while converging UK-euro zone rate differentials lifted the EUR by 0.76% versus the pound.
29 highs, but dollar bulls were unable to sustain gains. USD/JPY rallied to 113.96 in early NorAm on Omicron haven unwinds, matching Nov.UK-euro zone rate differentials are narrowing as the restrictions add to near-term uncertainty about UK rate hikes and push expectations out the curve.EUR/USD rose 0.67% to 1.1344 aided by broad long USD haven unwinds and EUR/GBP cross buying in anticipation of the tougher COVID-19 restrictions British Prime Minister Boris Johnson imposed in England on Wednesday - ordering people to work from home, wear masks in public places and use vaccine passes in a bid to slow the spread of the Omicron coronavirus variant.yield curve bucked its recent flattening trend, steepening after JOLTS data and the BoC’s rate hold and less-hawkish-than-expected guidance. inflation report and next week's Fed meeting - along with the thin liquidity that usually accompanies the year-end period. Market trends have also become muddled by the approach of two high-profile risk events - Friday's U.S.job openings surged in October while hiring decreased, adding to evidence of a worsening worker shortage that could hamper employment growth and the overall economy. The dollar index was down 0.42% at 95.875, deriving no support from JOLTS data showing the labor market was tighter than expected in October.The dollar fell on Wednesday, reversing recent Omicron-related haven buying as markets remained enthralled by preliminary reports indicating the severity of the new variant may be less than prior iterations and Pfizer comments that a three-shot course could provide protection.10:00 Irish Central Bank deputy governor Sharon Donnery speaks on Future of Europe Housing Conference in Dublin.08:00 Riksbank executive board meeting in Stockholm.Looking Ahead - Events, Other Releases (GMT) 8 Dec 23:50 JP 4 Dec, w/e Foreign Invest JP Stock (JPY), -309.6 bln prev Foreign Invest JP Bonds, -451.3 bln prev.8 Dec 23:50 JP 4 Dec, w/e Foreign Bond Investment (JPY), -1,343.2 bln prev Foreign Stock Invest, 105.7 bln prev.8 Dec 21:45 NZ Q3 Manufacturing Sales, -0.1% prev.Johnson: Will give businesses a week's notice on NHS COVID pass requirements, will make the pass mandatory for venues and places with large crowds.Johnson: Will reintroduce guidance to work from home, extend face mask requirement to most public venues from Friday.Johnson imposes COVID-19 'Plan B' in England to contain Omicron.Brexit: UK's Johnson says on protocol: We do not remove the possibility of Article 16.Digital euro, Swiss franc trials were successful, central banks say.ECB's Schnabel says adjusting sequence of policy instruments not appropriate.Bank of Canada keeps interest rates unchanged, warns of Omicron uncertainty.Senate panel likely to hold hearings for Fed's Powell, Brainard next month.Russia's Putin says his talks with U.S.' Biden were open, constructive.Biden says he made clear there would be economic consequences like none before if Putin invades Ukraine, says he is confident Putin got the message.US 3 Dec, w/e MBA Mortgage Applications, 2.0%, -7.2% prev Mortgage Mkt Idx, 616.4, 604.2 prev.job openings jump to 11 million fewer workers voluntarily quitting Early BioNTech, Pfizer data suggests boosters may protect against Omicron infection.USD soft amid Omicron haven unwind, rising JOLTS data