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The FTSE 100 is amongst the major markets currently down so far today, having fallen by 1.3% so far and 2.2% at its peak drop over concerns about the latest Covid variant – Omicron.
As a result, the pound is currently down 0.4% against the US dollar at $1.3195 – undoing the gains made last week following the Bank of England's interest rate rise.
America's central bank, the Federal Reserve, has announced that it will be ending its bond-buying stimulus programme sooner than originally intended.
The move has been announced in light of the rapidly rising inflation rate in the United States – currently at 6.8% following the quickest inflation rise since the Reagan tenure in the White House.
The Central Bank of Ireland has added 2 tonnes of gold to its reserves this year, with gold purchases in September and October.
The discreet purchase sees an increase in Ireland's holdings from 6 tonnes to 8 tonnes; a sizeable 33% increase that leans into the idea that central banks are concerned about the continued inflation globally.
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