Risk-sensitive currencies are rising due to the developments of the Evergrande crisis and the dollar is stable

Risk-sensitive currencies are rising due to the developments of the Evergrande crisis and the dollar is stable
Risk-sensitive currencies are rising due to the developments of the Evergrande crisis and the dollar is stable

© Reuters. US dollars in an illustrative photo from the Reuters archive.

LONDON (Reuters) – Risk-sensitive currencies such as the Australian dollar and the Chinese yuan jumped while the safe-haven yen fell slightly on Wednesday after Chinese property developer Evergrande said it would repay bond coupons in yuan, easing fears it would default on its commitments. .

But some enthusiasm faded after traders realized that it was not yet clear how the company would be able to pay the coupons on its dollar bonds abroad, which expire on Thursday.

The Australian dollar rose 0.49 percent to $0.7268 before giving up some gains to trade at $0.7247, up 0.2 percent on the day.

The yen fell about 0.2 percent to 109.43 per dollar, as it was little affected by the Bank of Japan’s decision to keep interest rates unchanged.

It recorded 93.226 in early trade in London, hovering not far from Monday’s one-month high of 93.455.

It was traded at $1.1725, after settling at a one-month low of $1.1700 on Monday.

The euro fell to a seven-month low against 127.93 yen, with the Japanese currency gaining support from cautious sentiment.

It settled and rose slightly to 6.4748 per dollar in offshore trade, up from a one-month low of 6.4878 hit on Monday.

As for other currencies, there was little change in the Canadian dollar, which retained the gains recorded on Tuesday, after the victory of the Liberal Party led by Justin Trudeau in a tight election.

It rose after falling in the previous session.

And increased five percent to 42,754 dollars, after recording its lowest level in a month and a half at 39,573 dollars.

The cryptocurrency Ether rose 6 percent to $2,950, after falling to $2,732, down more than 30 percent from its four-month high earlier this month.

(Prepared by Marwa Salam for the Arab Newsletter – Edited by Mounir Al-Bouti)

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Risksensitive currencies rising due developments Evergrande crisis dollar stable

 
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