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Dollar Clings To 1-week Low
Description
The U.S. Dollar is hovering near its 1-week low against other major currencies on Friday. After taking its biggest drop in a month in overnight trading, the currency is struggling as analysts and investors await the fate of Evergrande Group ($EGRNF@China). Overnight, the dollar index settled at 92.977, eliminating gains made earlier in the week. Additionally, the Japanese Yen fell to its lowest value since mid-August. The Bank of England indicated it could stop pandemic-era monetary policies, seemingly in lockstep with the U.S. Federal Reserve Board, pushing up global yields. To complicate matters, offshore bondholders did not receive promised coupon payments from Evergrande by the Thursday deadline.
Keywords & Tags
#china
#finance
#economics
#business
#pandemic
#investors
#analysts
#economic recovery
#FED
#U.S. Dollar
#currency
#Bank of England
#monetary policy
#forex
#dollar
#yen
#Japanese yen
#Evergrande
#EGRNF
#Evergrande Group
#1-Week Low
#dollar index
#U.S. Federal Reserve Board
#Reserve Board
#offshore bondholders
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