Moroccan Dirham Strengthens Against Euro, Slips Versus Dollar Amid Omicron Concerns

In its latest publication "Weekly Derivatives Letter", BKGR indicates that the dirham gained 0.27% against the euro and fell by -0.07% against the dollar, reflecting the evolution of the basket.

The dollar index was pulled down at the start of the week by the worrying appearance of the first case of the Omicron variant in the United States, but closed the week up +0.10% week-on-week, the same source said.

Under these conditions, the EUR/USD pair recorded "moderate losses" during the previous week, also benefiting from the publication of weaker than expected economic data in the Euro Zone, in particular the manufacturing PMI down 0.2 pt to 58.4 and the CPI up 4.9% in November (year-on-year), continues BKGR.