• Latest
  • Trending
Yen sinks, Aussie climbs as Evergrande contagion fears recede

Yen sinks, Aussie climbs as Evergrande contagion fears recede

Wells Fargo advisors fines $7 MLN by US SEC for anti-money laundering

Wells Fargo advisors fines $7 MLN by US SEC for anti-money laundering

Ford sells shares in EV maker Rivian for $214 MLN

Court puts sales ban on Ford’s internet linked cars in Germany

There is nothing left before Blockchain Fest in Singapore

There is nothing left before Blockchain Fest in Singapore

Exclusive Hyundai to slash combustion engine line-up, invest in EVS

Hyundai motor group plans to invest $16.5 BLN in S.Korea EV business

SONY expects profit to slip after pandemic boom

Sony readies for metaverse revolution with cross-platform push

JP Morgan shareholders vote disapproval of CEO Dimon’s special payout

JP Morgan shareholders vote disapproval of CEO Dimon’s special payout

Tesla loses $ 126 BLN in value amid Musk Twitter deal funding concern

Elon Musk says Twitter legal team told him he violated an NDA

Tech firms asks US supreme court to block Texas social media law

Tech firms asks US supreme court to block Texas social media law

US FAA shifts gears on certifying future flying taxi pilots

US FAA shifts gears on certifying future flying taxi pilots

Ford sells shares in EV maker Rivian for $214 MLN

Ford sells shares in EV maker Rivian for $214 MLN

Fed’s Waller says now is the time to hit it on raising rates

Fed’s Waller says now is the time to hit it on raising rates

All the best is yet to come in Singapore: Blockchain Fest 2022

All the best is yet to come in Singapore: Blockchain Fest 2022

Global Business Review Magazine
Thursday, May 26, 2022
Nominate Here
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
No Result
View All Result
Global Business Review Magazine
No Result
View All Result

Yen sinks, Aussie climbs as Evergrande contagion fears recede

Yen sinks, Aussie climbs as Evergrande contagion fears recede

The safe-haven yen sank to its lowest in nearly three months. From a one month low, the Australian dollar continued to recover. The fears of widespread contagion from China Evergrande Group receded is the main reason for this. The yen also fell as higher U.S. yields attracted Japanese investor money. From July, the U.S. yields climbed to their highest. This is in anticipation of tighter U.S. monetary policy.

The euro traded little changed at $1.1724. They ignored developments in German elections, with the Social Democrats projected to narrowly defeat the CDU/CSU conservative bloc. The Federal Reserve announced that it will begin to trim its monthly bond purchases soon. The flagged interest rate increases may follow sooner than expected. Half of Federal Open Market Committee members projecting a hike next year. Commonwealth Bank of Australia analysts wrote in a client note that USD is likely to remain caught in the cross-currents of a more hawkish FOMC. Nevertheless, the risks are skewed to a firmer USD.

YOU MAY ALSO LIKE

Wells Fargo advisors fines $7 MLN by US SEC for anti-money laundering

Fed’s Waller says now is the time to hit it on raising rates

Concerns over Evergrande could default on its $305 billion of debt has overshadowed trade. The People’s Bank of China injected a net 100 billion yuan into the financial system. Several local governments in China have set up special custodian accounts for Evergrande property projects. This is for protecting the funds. The yen weakened as far as 110.81 per dollar. Chris Weston, head of research at brokerage Pepperstone in Melbourne, stated that the correlation between U.S. bonds yields and USDJPY has picked up. USDJPY looks a little stretched, so he would be wary to chase here. But he will be looking for a re-test of 110.50 as a potential support zone within what is a progressively bullish trend. The Aussie climbed 0.37% to $0.7282. The Norwegian crown gained about 0.4% and touched 8.5537 per dollar.

Tags: Australian DollarEvergrandeYen
ShareTweetShare
Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • Wells Fargo advisors fines $7 MLN by US SEC for anti-money laundering
  • Court puts sales ban on Ford’s internet linked cars in Germany
  • There is nothing left before Blockchain Fest in Singapore
  • Hyundai motor group plans to invest $16.5 BLN in S.Korea EV business
  • Sony readies for metaverse revolution with cross-platform push

Categories

  • Banking
  • Business
  • Events
  • Finance
  • FinTech
  • Tech
  • Videos
  • About
  • Nominate
  • Privacy & Policy

© 2022 Global Business Review Magazine - All Rights Reserved.

No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

© 2022 Global Business Review Magazine - All Rights Reserved.

Go to mobile version