According to the Financial Times, at least one Omicron case has been detected in England that cannot be directly linked to travel to affected countries (such as South Africa). The discovery suggests that community transmission of the variant has already begun and comes after nine infections were uncovered in Scotland last week linked to an event that had no known travel connection.
Market Reaction
Sterling did not see a reaction to the news. The variant is expected to become dominant due to its high transmissibility. The key question is whether it will make unvaccinated and vaccinated people alike seriously ill.
