Dollar on back foot as Treasury yields soften, Omicron keeps markets on edge

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Reuters UK

By Alun John HONG KONG (Reuters) – The dollar hovered below recent highs on Tuesday having lost ground overnight after a blow to Democratic spending plans in Washington, but worries about the Omicron coronavirus variant kept risk currencies in check. The dollar index, which measures the currency against six major peers, was last at 96.513, having lost ground on both the euro and the yen. The greenback briefly approached 16-month highs at 96.914 last week, after the U.S. Federal Reserve opened the door to as many as three interest rate increases in 2022, and then found support as worries about …

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