While fears subsided around the threat of the Omicron variant on activity in the United States, the dollar strengthened last Tuesday, especially against the euro.

Against a background of persistent divergence with the euro zone on monetary policies, the dollar index, which measures the value of the greenback against six other major currencies, climbed 0.14% to 96.22 points. The euro lost 0.25% against the greenback at 1.1300 dollars. The decline in the euro reflects, according to the analyst, the fact that Europe had "a stricter political reaction with severe restrictions in certain countries" in the face of the spread of the Covid-19 variants, Delta and Omicron. While the Fed plans interest rate hikes in 2022, possibly as soon as the reduction in asset purchases ends in March, the ECB has no tightening in sight.

The Dollar had started the session on a strong note (it rose towards 1.1290/E, or more than 0.3%) before settling a little to maintain only +0.2% gain, towards 1.1300 /E (the Euro fell slightly against all currencies). For its part, the greenback recovered 2.5% against the Turkish lira around 11.800.