The dollar pared some gains on Thursday after riding long-end U.S. Treasury yields higher overnight, though investors remained on edge going into the year end as initial optimism over China’s reopening fizzled.
Following China’s removal of its quarantine rule for inbound travellers beginning Jan. 8, countries such as the United States, Japan and India said they would require COVID tests for travellers from China.
The speed at which the country has scrapped COVID rules has overwhelmed its health system and sparked concerns about the spread of the virus.
