LONDON : The dollar hovered above a one-week low versus major peers on Friday, taking a breather after its biggest drop in almost a month overnight, as questions lingered about the fate of property developer China Evergrande Group.
The safe-haven dollar was hurt after Beijing injected new cash into the financial system on Thursday, when Evergrande announced it would make interest payments on an onshore bond. Hawkish comments from the Bank of England on Thursday pushed up yields globally, a day after the U.S. Federal Reserve said it could start reducing its monthly bond purchases by as soon as November, and that interest rates could rise quicker than expected by next year.
"Improved sentiment has weighed on the dollar, which is also discounting markets' reluctance to align with the Fed's Dot Plot." The risk-sensitive Australian dollar was 0.2per cent lower at US$0.7280 after touching a one-week high of US$0.73165.
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