# Evergrande jitters pull risk currencies lower, dollar gains on safety bid

> The offshore yuan weakened to its lowest level in nearly a month as concerns over property developer Evergrande's solvency unsettled markets. Safe-haven currencies, including the dollar, strengthened on the risk-off sentiment.

- Date: 2021-09-20 · published 2021-09-20T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/45274-evergrande-jitters-pull-risk-currencies-lower-dollar-gains-on-safety-bid
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Risk-off moves tend to strengthen the dollar and weigh on commodity prices. The effect on feed markets is indirect and depends on whether the financial stress spreads to China's demand outlook.

## Read by commodity

- DXY: bullish ▲
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-09-23 | [Currencies slip as dollar gains on safe-haven demand, rand drops 1% \| Financial Post](https://feedsoft.ai/events/51393-currencies-slip-as-dollar-gains-on-safe-haven-demand-rand-drops-1-financial-post.md) | +0.8% | -1.4% |
| DXY | 2017-11-07 | [Policy divergence bets drive dollar gains, pull euro lower](https://feedsoft.ai/events/68188-policy-divergence-bets-drive-dollar-gains-pull-euro-lower.md) | -0.2% | -0.8% |
| DXY | 2023-06-29 | [Asian currencies edge lower as US dollar jumps on hawkish Fed](https://feedsoft.ai/events/35726-asian-currencies-edge-lower-as-us-dollar-jumps-on-hawkish-fed.md) | +0.4% | -1.2% |
| DXY | 2016-11-25 | [Dollar pulls back after skittling  world currencies](https://feedsoft.ai/events/74038-dollar-pulls-back-after-skittling-world-currencies.md) | -0.3% | +0.7% |
| DXY | 2021-12-01 | [Dollar steadies, risk currencies recover from omicron-driven drop](https://feedsoft.ai/events/43797-dollar-steadies-risk-currencies-recover-from-omicron-driven-drop.md) | -0.3% | -0.7% |
| USDCNY | 2016-11-25 | [Dollar pulls back after skittling  world currencies](https://feedsoft.ai/events/74038-dollar-pulls-back-after-skittling-world-currencies.md) | -0.5% | +0.4% |
| USDCNY | 2024-12-03 | [CNY/USD: China’s Yuan Falls to One-Year Low on Tariff Risk, Dollar Gains - Bloomberg](https://feedsoft.ai/events/27168-cny-usd-china-s-yuan-falls-to-one-year-low-on-tariff-risk-dollar-gains-bloomberg.md) | -0.2% | +0.4% |
| USDCNY | 2024-04-16 | [Resurgent Dollar, Higher Yields Send EM Currencies to 2024 Lows - Bloomberg](https://feedsoft.ai/events/11278-resurgent-dollar-higher-yields-send-em-currencies-to-2024-lows-bloomberg.md) | +0.0% | -0.1% |

## Sources

- reuters.com: https://www.reuters.com/business/evergrande-jitters-pull-risk-currencies-lower-dollar-gains-safety-bid-2021-09-20/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.