What you need to know on Wednesday, September 22: The greenback shed ground through the first half of the day but recovered m
What you need to know on Wednesday, September 22:
The greenback shed ground through the first half of the day but recovered most of it during the American afternoon. Asian and European shares closed in the green, while Wall Street opened with substantial gains, giving up most of them ahead of the close.
Market participants put aside Evergrande-related concerns, as the focus shifted to the US Federal Reserve monetary policy announcement. The US central bank is widely anticipated to remain on hold, although it would present fresh Economic Projections and even provide clear hints on tapering. Should policymakers decide to trim QE before year-end, the dollar will likely benefit from a likely equities’ sell-off.
The EUR/USD pair remained below 1.1750, finishing the second day in a row unchanged in the 1.1720 price zone. GBP/USD failed to recover ground and held near its recent low, currently trading at around 1.13660.
USD/JPY resumed its decline and settled at 109.20 ahead of the Bank of Japan monetary policy announcement early on Wednesday.
Commodity-linked currencies resumed their declines, with AUD/USD pressured and trading around 0.7230 despite higher gold prices. USD/CAD hovers around 1.2810, marginally higher on a daily basis.
Gold advanced for two days in a row, and trades around $1,775 a troy ounce, while crude oil prices held steady. With WTI ending the day at $70.60 a barrel.
US Treasury yields remained stable, ticking modestly higher on a daily basis.
Cardano bulls bleed as they try to catch a falling knife
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