After the announcement of the detection of a new variant of Covid-19 in South Africa, safe-haven currencies appreciated strongly on Friday. These include the franc and the yen.

The new variant has the potential to spread very quickly, according to scientists who do not know at this stage whether currently available vaccines are effective against it. This Friday, around 10:50 a.m., the yen appreciated by 0.73% against the euro at 128.38 yen and by 1.23% against the dollar at 113.96 yen. The franc appreciated for its part by 0.51% against the euro at 1.0437 francs and by 0.97% against the dollar at 92.69 cents. A collateral victim, the South African rand fell 1.81% against the dollar to 16.26 rand, shortly after hitting a year-long low against the greenback. Finally, the euro held up better than the dollar, appreciating by 0.48% against the greenback at 1.1264 dollars for one euro.