Dollar steadies as China COVID fears linger - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The US dollar index was last 0.06% lower at 107.71.

“The safe haven appeal of the US dollar is coming back into vogue as the concerns around China and the outbreaks from COVID are keeping markets nervous,” said Rodrigo Catril, a currency strategist at National Australia Bank . “The curiosity is how Japan has also shown a great deal of sensitivity … if anything, the takeaway there is that Japan’s safe haven appeal is no longer there,” said NAB’s Catril, referring to the yen. “It’s more like a cork in the ocean, subject to risk aversion as well as movements in 10-year Treasury yields.”

Speeches delivered by Fed speakers overnight delivered few surprises, with Cleveland Fed President Loretta Mester saying the central bank can downshift to smaller interest rate hike increments from next month.

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Business Maverick: Stocks drop amid China Covid worries, Fed rate: markets wrapStocks and emerging-market currencies decline in Asia amid concern that China may tighten Covid curbs after reported deaths, and as investors weigh the outlook for US rate hikes.
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