White House: President Biden will offer an update on US Omicron reaction on Monday

Anil Panchal FXStreet

Following the comments from US National Institutes of Health (NIH) Director Francis S. Collins, coupled with consultation from top NIH official Anthony Fauci, the White House released a statement over the Omicron during early Monday morning in Asia.

Key quotes

Dr. Fauci informed the President that while it will take about two more weeks to have more information about the transmissibility, severity and other characteristics of the Covid-19 Omicron variant, he continues to believe that existing vaccines are likely to provide a degree of protection against severe cases of Covid.

Fauci reiterated that boosters provide strongest protection from Covid.

The President will provide an update on the new variant and the US response on Monday.

FX reaction

The news weighs on the market sentiment and drowns the risk barometer AUD/USD towards a three-month low by the press time.

Read: AUD/USD retreats towards 0.7100 as ‘Omicron’ sours sentiment

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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