Early national data suggests that Omicron is associated with a two-thirds reduction in the risk of COVID-19 hospitalisation when compared to delta, according to reports.
We've seen estimates ranging from 10x to half but they're all pointing in the same direction. It's still early but all the signs are pointing in the right direction.
That sentiment continues to percolate through the market with oil and equities at the highs of the day and the Australian dollar sizzling. AUD/JPY is now threatening last week's high.
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