Forex Today: Minor Risk Rally Fizzles Out

The Japanese Yen continues to look relatively weak, as the USD/JPY currency pair advances again and begins to threaten its recent high.There will be a release of US CB Consumer Confidence data later today.Daily new coronavirus cases globally rose again last week, against the long-term trend. It may be that the omicron subvariant BA5 will cause another significant wave.It is estimated that 66.4% of the world’s population has received at least one dose of a coronavirus vaccination, while approximately 6.9% of the global population is confirmed to have contracted the virus at some time, although the true number is highly likely to be much larger. Total confirmed new coronavirus cases worldwide stand at over 549.8 million with an average case fatality rate of 1.16%. The rate of new coronavirus infections appears to now be significantly increasing in Austria, Kenya, France, Israel, Qatar, Bahrain, Cyprus, Germany, Greece, Guatemala, Italy, Lithuania, Malta, Mexico, Morocco, Singapore, and the UAE.