Euro declines as Omicron concerns fade

Euro fell in European trade on track for the third loss in four against dollar as concerns about the Omicron coronavirus fade and risk appetite improves, while Euro is also pressured by weak German data.

EUR/USD fell 0.3% to 1.1274, with an intraday high at 1.1311, after rising 0.1% on Friday, the first profit in three days following disappointing US jobs data.

The dollar index rose 0.2% on Monday for the fourth straight session against a basket of major rivals.

The gains come amid improving risk appetite for investors as concerns about  the Omicron variant recede following South African reports that indicate the new variant is mild in its symptoms. 

Most of patients with Omicron don't require oxygen for breathing, the rate are considerably better than other variants. 

In Germany, factory orders fell 6.9% in October, missing estimates of a 0.2% fall, triggering concerns of slowdown in German recovery.