The US dollar bounced Thursday as global investors scaled back on riskier equities, aggravated by China’s devitalizing economy and its volatile stock markets.
China’s degenerating economy and woes about global growth pressed investors to cut bets in the euro and the Japanese yen.
The greenback finished at $1.1210 per euro. Versus the Japanese yen, the dollar closed at ¥120.655.
We believe additional easing is possible before the year ends. Such message should uphold sentiment, “which so far has been a drag on risky assets,” said strategists at Barclays.
With China’s markets shut for a national holiday, investors will now focus on the European Central Bank policy meeting today.
The material has been provided by InstaForex Company – www.instaforex.com