The dollar index, which measures the movement of the dollar against the six major currencies in a basket of currencies. It dropped near a one-week low today. While investors sell dollars as a safe haven currency. and increase the holding of risky assets
At 9:35 p.m. GMT, the dollar index was down 0.11% to 93.36 near 92.977, its lowest level since Sept. 17, while the euro rose 0.14% to 129.63 yen and fell 0.24 percent. to $1.171, while the dollar was 0.38% higher to 110.72 yen.
Investors ease concerns about China’s default. Evergrande Group, China’s second-largest real estate company after the People’s Bank of China injected a lot of liquidity into the market.
Federal Reserve Chairman Jerome Powell also said the Evergrande debt default would not have a direct impact on the US economy. While the default of US private debt is at a low level.
The dollar strengthened earlier After the Fed signaled it would soon cut its credit in its quantitative easing (QE) bond-buying program.
At the same time, most of the Federal Reserve’s board members expect the rate hike to happen in 2022, a year earlier than the previous forecast in June. The Fed committee expects a rate hike in 2023.
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