South Africa’s rand slipped in early trade on Monday, as a surge in COVID-19 infections globally due to the Omicron variant dampened risk appetite. Nasdaq reports that the rand traded at 15.9675 against the dollar, 0.14% weaker than its previous close. While South Africa has said it believed it had passed the peak of a wave of coronavirus infections caused by the highly contagious Omicron variant, a surge of infections in other countries remained a concern for investors.