The “Evergrand” crisis casts a shadow over the currency markets, and “crypto” is rising

The “Evergrand” crisis casts a shadow over the currency markets, and “crypto” is rising
The “Evergrand” crisis casts a shadow over the currency markets, and “crypto” is rising

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.
The dollar index hit 93.226 in early London trade, hovering not far from Monday’s one-month high of 93.455.
The euro was trading at $1.1725, after settling at a one-month low of $1.1700 on Monday.
The euro fell to its lowest level in seven months against the Japanese yen to 127.93 yen as the Japanese currency gained support from the cautious sentiment dominating the sentiment.
The Chinese yuan was stable and rose slightly to 6.4748 against the dollar in offshore trade, up from a one-month low of 6.4878 reached on Monday.
As for other currencies, there was little change in the Canadian dollar, which retained its record gains on Tuesday, after the victory of the Liberal Party led by Prime Minister Justin Trudeau in a tight election.
Cryptocurrencies rose after falling in the previous session.
Bitcoin rose five percent to $42,754, after hitting its lowest level in a month and a half at $39,573.
The cryptocurrency Ethereum rose 6 percent to $2,950, after falling to $2,732, down more than 30 percent from its four-month high earlier this month.

Source

Evergrand crisis casts shadow currency markets crypto rising

 
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