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Dollar rises against currencies of emerging markets in the wake of the decline in Chinese stocks
10.22.2015
Investors sought to seek safety in the US dollar against the currencies of emerging markets and commodity-linked currencies such as the Australian dollar in the wake of the fall in the Chinese stock market.
China and kidnapped investor interest after the Shanghai Composite Index closed the shares down more than 3 percent. It also weakened stocks and currencies of other emerging markets after recently released data pointed to pessimistic forecasts for growth in those markets.
The yen hit its lowest level in more than a week against the greenback after the Japanese trade data sparked fears of another recession in the third largest economy in the world. That helped the dollar to climb to 120 yen during the session before the end it was up 0.1 percent at 119.92 yen.
The US currency also advanced against the Australian dollar, which fell 0.5 percent to US $ 0.7208.
The US dollar and record up sharply against the Canadian dollar, recording a gain of 1.1 percent after the central bank kept interest rates in Canada unchanged but cut its forecast for growth for the years 2016 and 2017.
The dollar rose 1.7 percent against the South African rand and 0.9 percent against the Brazilian real.
But the US currency stabilized against the euro as dealers wait for the result of the European Monetary Policy Committee of the Central Bank meeting on Thursday.
Investors are expected to remain stable ECB interest rates and refrain from issuing any announcement on further easing of monetary policy after the strong data released from the euro zone.
The euro was steady at 1.1340 Dolar.anthy 29/4 e
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10.22.2015
Investors sought to seek safety in the US dollar against the currencies of emerging markets and commodity-linked currencies such as the Australian dollar in the wake of the fall in the Chinese stock market.
China and kidnapped investor interest after the Shanghai Composite Index closed the shares down more than 3 percent. It also weakened stocks and currencies of other emerging markets after recently released data pointed to pessimistic forecasts for growth in those markets.
The yen hit its lowest level in more than a week against the greenback after the Japanese trade data sparked fears of another recession in the third largest economy in the world. That helped the dollar to climb to 120 yen during the session before the end it was up 0.1 percent at 119.92 yen.
The US currency also advanced against the Australian dollar, which fell 0.5 percent to US $ 0.7208.
The US dollar and record up sharply against the Canadian dollar, recording a gain of 1.1 percent after the central bank kept interest rates in Canada unchanged but cut its forecast for growth for the years 2016 and 2017.
The dollar rose 1.7 percent against the South African rand and 0.9 percent against the Brazilian real.
But the US currency stabilized against the euro as dealers wait for the result of the European Monetary Policy Committee of the Central Bank meeting on Thursday.
Investors are expected to remain stable ECB interest rates and refrain from issuing any announcement on further easing of monetary policy after the strong data released from the euro zone.
The euro was steady at 1.1340 Dolar.anthy 29/4 e
[You must be registered and logged in to see this link.]
