The dollar is falling and recording its second weekly loss


The dollar fell against its rival currencies yesterday, recording the second consecutive weekly decline, as news that the debt-laden Chinese group Evergrande avoided a default supported the appetite for high-risk assets.

Concerns about the real estate developer group, whose debt is equivalent to 2% of China’s GDP, have prompted investors to hold safe-haven currencies such as the US dollar and government debt.

The dollar index fell 0.1% to 93.61 points, making it record a decline for the second week.

The Australian dollar recorded 0.7498 US dollars, dropping from the 3-month high recorded the day before yesterday, after outweighing the impact of the Reserve Bank of Australia (central bank) move to stop selling bonds supporting the Chinese currency received from the news of the Evergrande, in addition to stopping the rise in energy prices. .

The euro was little changed and recorded 1.1627 dollars, while the yen hovered near its lowest level in several years, as the dollar reached 114.01 yen, compared to 114.69 earlier in the week, the lowest level in 4 years.



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