SINGAPORE, July 28 ― The dollar was pinned below recent highs today by a decline in real yields and by trepidation ahead of a Federal Reserve meeting, while other safe-haven currencies were in favour following an unnerving plunge in Chinese equity markets.
Hong Kong's Hang Seng Index suffered its sharpest selloff in more than a year yesterday amid growing fears about a Chinese government crackdown on tech and other sectors and jitters spilled over into US markets. Sterling was an outlier and it jumped through its 20-day moving average overnight as traders took reports that Britain was considering opening borders as a signal of further re-opening benefits to come. It last sat at US$1.3874.
Source: Financial Digest (financialdigest.net)
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