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21 November 2022 | Other

The dollar strengthens amid growing fears of China about COVID

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GBPUSD
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The week began with a rapid growth of the U.S. dollar. The positive dynamics of the currency occurred due to purchases of protective assets, as investors' concerns after a spike in cases of COVID-19 forced officials to tighten restrictions. 

According to Reuters, an easing of restrictive measures is already unlikely in the near future because of the growing number of cases.

Carol Kong, a strategist at Commonwealth Bank of Australia, said the prospects for a Chinese market without Covid remain a key source of volatility today.

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