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Dollar wobbles while investors await midterms; cryptos skittish - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The dollar wavered on Wednesday, as traders awaited results from US midterm elections and inflation data that could disappoint hopes for a slowdown in rate hikes, while cryptocurrency markets attempted to steady after news of a bailout of exchange FTX.

The greenback has been under downward pressure from bets on the Federal Reserve easing back on interest rate rises and on China reopening and driving growth.

The dollar last traded at $1.1006 per euro and bought 145.20 yen, dipping below its 50-day moving average against the yen for the first time in nearly three months. “We all know the dollar will probably turn at some point – when is the big question,” said Bank of Singapore currency analyst Moh Siong Sim.

 

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