Arab Today, arab today dollar drops as chinas economic woes spook investors
Last Updated : GMT 22:44:44
Arab Today, arab today
Arab Today, arab today

Dollar drops as China's economic woes spook investors

Arab Today, arab today

Arab Today, arab today Dollar drops as China's economic woes spook investors

US dollar
New York - AFP

The dollar fell against other major currencies Friday as weak Chinese data stoked fresh jitters about the slowdown in the world's second-largest economy and its impact on global growth.

"A hazy outlook for US interest rates and persistent concerns about the shape of the world economy continued to weigh on America's currency," said Joe Manimbo of Western Union Business Solutions.

The greenback was on the defensive amid a global equity selloff after a Chinese manufacturing report showed activity contracted the most since the 2009 financial crisis.

The rout on Wall Street was severe: the Dow Jones Industrial Average plummeted 3.1 percent to a 10-month low, entering correction territory with a loss of more than 10 percent since its peak in mid-May.

The dollar, typically a safe-haven currency in times of uncertainty, remained under pressure after Federal Reserve minutes released Wednesday seemed to lower the likelihood the Fed will raise near-zero interest rates as early as September.

"It used to be that in times of trouble, the US dollar reigned supreme," said Kit Juckes of Societe Generale in a client note.

The dollar fell 1.3 percent against the euro, at $1.1386, and 1.1 percent against the yen, at 122.06 yen, compared with late Thursday.

Juckes said the pattern this week has been for the dollar to drift lower against the euro and yen, and soar against a range of emerging market currencies.

"It's a pattern that is unlikely to change much unless or until better US data give the dollar a lift and change the debate about Fed policy, or better Chinese data change the debate about PBoC (People's Bank of China) policy and the outlook for emerging market assets and commodities," he said.

Omer Esiner of Commonwealth Foreign Exchange said the euro was benefiting "as investors unwind trades in assets like emerging markets stocks and bonds and riskier assets in general."

"In general they're forced to buy back the euro that in many case is used as a funding currency to buy these assets."

2100 GMT     Friday    Thursday

EUR/USD     1.1386     1.1241

EUR/JPY       138.97     138.69

EUR/CHF     1.0781      1.0775

EUR/GBP     0.7254      0.7163

USD/JPY      122.06      123.38

USD/CHF     0.9470      0.9586

arabstoday
arabstoday

GMT 16:08 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 04:42 2017 Saturday ,14 October

Egyptian Bourse gains EGP 2.6 bn

GMT 04:32 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 20:52 2017 Thursday ,12 October

Egyptian Bourse loses EGP 3 bn

GMT 13:12 2017 Thursday ,12 October

Bahrain Bourse daily performance

GMT 11:06 2017 Thursday ,12 October

Wall Street ends at fresh records; Spanish stocks gain

GMT 21:13 2017 Wednesday ,11 October

Bahrain Bourse daily trading report (update)
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dollar drops as chinas economic woes spook investors Arab Today, arab today dollar drops as chinas economic woes spook investors

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dollar drops as chinas economic woes spook investors Arab Today, arab today dollar drops as chinas economic woes spook investors

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday