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FOREX-Dollar Maintains Near Month High With Fed, Evergrande Eyes

By on September 21, 2021 0

(Add details, update prices; change signature, date; old LONDON) near a one-month high as global markets rebounded somewhat on Tuesday after a sense of aversion to the risk dominated in the previous session, as investors awaited the results of a two-day Federal Reserve policy meeting. After hitting its highest level since August 23 on Monday, the dollar was down that day as Wall Street stocks braced for a solid open, but as benchmark stock index gains faded. , the greenback rose slightly. Investors are also waiting for the Fed’s policy announcement on Wednesday for any sign of when the central bank will start cutting its massive bond purchase program, in a week filled with policy statements expected from a multitude of banks. plants around the world. . “The market was trying to get a feel for Tuesday’s turnaround that would last, and if we had this continued improvement in risk appetite, the dollar was going to fall even further here,” said Edward Moya, senior market analyst. at OANDA in New York. “But there’s just a lot of expectation as to what’s going to happen with the Fed, what’s going to happen with Evergrande, and right now, if you’re trying to make a dollar bet, you really just want to wait. ‘get a better idea of ​​what’s going to happen with Evergrande and what the Chinese government is going to do. ” The dollar index rose 0.012% after peaking at 93.455, while the euro lost 0.01% to $ 1.1724. The greenback strengthened on Monday, along with other safe havens such as the yen and Swiss franc, as concerns over the fallout from credit problems at property developer China Evergrande spooked financial markets. Those concerns have eclipsed President Evergrande’s efforts to boost confidence in the struggling company on Tuesday, as Beijing showed no signs it would step in to stem the domino effects in the global economy. The offshore Chinese yuan weakened against the greenback at 6.4849 per dollar. Before the Evergrande debt crisis rattled markets, the dollar was supported ahead of a Federal Reserve meeting this week, when economists polled in a Reuters poll expect policymakers to point out the expectations of a reduction plan that would be postponed to November. The Japanese yen strengthened 0.14% against the greenback to 109.21 per dollar, while the British pound last traded at $ 1.3646, down 0.08% on the day. The Canadian dollar weakened for a fourth consecutive day against the greenback, after Canadian Prime Minister Justin Trudeau was re-elected for a third term but failed to secure a majority in the legislative elections. In cryptocurrencies, Bitcoin last fell 1.53% to $ 42,378.52. =================================================== ====== Currency Bid Price at 10:51 AM (1451 GMT) Description RIC Last US Close Percentage Change YTD High Bid Low Bid Previous Session Dollar Index 93.2270 93.2310 + 0.01% 3.607% +93.2860 +93.0480 Euro / Dollar $ 1.1724 $ 1.1728 -0.03% -4.04% +1.1749 $ +1.1717 Dollar / Yen 109.2250 109.3850 -0.14% + 5.72% +109.7050 +109.2100 Euro / Yen 128.04 128.26 -0.17% + 0.88% +128.6900 +128.0400 Dollar / Switzerland 0.9225 0.9278 -0.56% + 4.28% +0.9283 + 0.9225 Sterling / Dollar $ 1.3646 $ 1.3657 -0.06% -0.10% + $ 1.3692 + $ 1.3646 Dollar / Canadian 1.2844 1.2820 + 0.18% + 0.86% +1.2847 +1.2744 Aussie / Dollar $ 0.7229 $ 0.7253 -0.34% -6.03% + $ 0.7283 + $ 0.7228 Euro / Switzerland 1.0814 1 , 0879 -0.60% + 0.06% +1.0886 +1.0817 Euro / Sterling 0.8588 0.8581 + 0.08% -3.91% +0.8592 +0.8564 NZ $ 0.6998 $ 0.7031 -0.47% -2.55% + $ 0.7056 + $ 0.6998 Dollar / Dollar Dollar / Norway 8.6915 8 , 7365 -0.59% + 1.14% +8.7105 +8.6560 Euro / Norway 10.1900 10.242 0 -0.51% -2.65% +10.2430 +10.1590 Dollar / Sweden 8.6743 8.6775 -0. 03% + 5.84% +8.6808 +8.6536 Euro / Sweden 10.1700 10.1730 -0.03% + 0.93% +10.1792 +10.1550 (Report by Chuck Mikolajczak; Edited by Andrea Ricci)