Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

South African rand takes a hit on fears of new Covid variant with many mutations

by
November 26, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Best Options Prop Trading Firms (2023) | 13 Top Prop Firms for Options Trading

May Employment Preview

South African rand.

RapidEye | iStock | Getty Images

The South African rand on Friday fell sharply against the dollar after a new variant with many mutations was detected in the country.

The currency fell to as low as 16.2391 against the greenback during Asia trading hours on Friday and was last trading about 1.6% weaker at 16.2215 per dollar.

The losses came as investors scurried toward safe-haven currencies such as the Japanese yen, which strengthened about 0.6% against the greenback to 114.69 per dollar. The U.S. dollar index, which tracks the greenback against its peers, was at 96.712 — as compared with levels below 96.5 seen earlier this week.

One currency analyst told CNBC’s “Street Signs Asia” on Friday that the big move in the rand may be partially due to fewer trades being made during Asia hours.

“This fundamental news of the new variant in [South] Africa, combined with thin liquidity in Asia, is definitely driving part of that price action,” said Adarsh Sinha, co-head of Asia rates and foreign exchange strategy at Bank of America Securities.

World Health Organization officials said Thursday they are monitoring a new variant with numerous mutations to the spike protein — the part of the virus that binds to cells in the body. The health agency is scheduling a special meeting Friday to discuss what it may mean for vaccines and treatments.

The variant, called B.1.1.529, has been detected in South Africa in small numbers, according to the WHO.

“We don’t know very much about this yet. What we do know is that this variant has a large number of mutations. And the concern is that when you have so many mutations, it can have an impact on how the virus behaves,” Dr. Maria Van Kerkhove, WHO’s technical lead on Covid-19, said in a Q&A that was livestreamed on the organization’s social media channels.

Hours following the announcement, the United Kingdom announced it would temporarily suspend flights from six African countries.

— CNBC’s Hannah Miao contributed to this report.

ShareTweetPin

Related Posts

Best Options Prop Trading Firms (2023) | 13 Top Prop Firms for Options Trading

by
June 2, 2023
0

As a seasoned options trader, you’ve decided it’s time to up your game by joining a proprietary trading firm. The...

May Employment Preview

by
June 2, 2023
0

by Calculated Risk on 6/01/2023 02:34:00 PM On Friday at 8:30 AM ET, the BLS will release the employment report...

U.S. Births decreased Slightly in 2022

by
June 2, 2023
0

by Calculated Risk on 6/01/2023 03:00:00 PM From the National Center for Health Statistics: Births: Provisional Data for 2022. The...

Friday: Employment Report

by
June 2, 2023
0

by Calculated Risk on 6/01/2023 09:01:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday:...

Meta will require employees to return to the office three days a week starting in September

by
June 2, 2023
0

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives at federal court in San Jose, California, US, on...

Next Post

Alibaba Price Targets Slashed for Record 18th Straight Week

Dow futures plunge nearly 600 points amid fears of new Covid variant found in South Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com