Evergrande nerves weigh on offshore yuan, dollar edges up on safety bid



* Evergrande worries hit offshore yuan

* Dollar index near 1-month high on safety bid

By Chuck Mikolajczak

NEW YORK, Sept 20 (Reuters) - The offshore Chinese yuan weakened versus the greenback to its lowest level in nearly a month on Monday, as worries about the repercussions from property developer Evergrande's solvency issues spooked financial markets and lifted safe-haven currencies.

Market sentiment has been rattled by the potential contagion from Evergrande, which is trying to raise funds to pay a host of lenders, suppliers and investors. A deadline for an $83.5 million interest payment on one of its bonds is due on Thursday, and the company has $305 billion in liabilities.

On Thursday, the yuan strengthened to its highest level in three months at 6.4226 per dollar before starting to reverse as Evergrande's woes worsened. The move sharpened on Monday after warnings from Chinese regulators that the company's insolvency could fuel broader risks in the country's financial system if not stabilized.

Analysts at Wells Fargo said on Monday they expect the dollar to reach 6.60 per yuan within the next month. The offshore Chinese yuan last CNH= weakened versus the greenback at 6.4839 per dollar.

"We are seeing a classic flight to safety in the dollar until we get some sense of clarity on whether or not it is going to be an orderly or disorderly resolution to Evergrande," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington DC.

"We were likely to see a continuation of the decline we’ve seen in risk assets going into this week and you throw in Evergrande and it has really unsettled the markets."

The dollar and other safe-haven currencies such as the yen and Swiss franc gained with the risk-off sentiment, which saw Wall Street's S&P 500 index on pace for its biggest one-day percentage drop 11 months.

The dollar index =USD rose 0.025%, with the euro EUR= unchanged at $1.1725.

The dollar has also been gaining ground on expectations the Federal Reserve will begin reducing its monthly bond purchases this year, with the central bank's policy announcement due on Wednesday.

Aside from the Fed, multiple central banks around the globe will hold policy meetings this week, including those of Sweden, England, and Norway.

The Japanese yen strengthened 0.58% versus the greenback at 109.32 per dollar, while sterling GBP= was last trading at $1.3656, down 0.63% on the day.

The Canadian dollar, also a commodity currency that correlates with risk sentiment, weakened to as low as C$1.2895 per dollar, its lowest level in four weeks. It last fell 0.42% versus the greenback at C$1.28 per dollar.

Polling for Monday's national election in Canada points to an advantage for incumbent Prime Minister Justin Trudeau, but he is unlikely to gain a parliamentary majority.

In cryptocurrencies, bitcoin BTC=BTSP last fell 7.76% to $43,577.67.

========================================================

Currency bid prices at 2:52PM (1852 GMT) Description

RIC

Last

U.S. Close Pct Change

YTD Pct

High Bid

Low Bid

Previous

Change

Session

Dollar index

=USD

93.2330

93.2230

+0.03%

3.614%

+93.4550

+93.1850 Euro/Dollar

EUR=EBS

$1.1727

$1.1726

+0.01%

-4.02%

+$1.1737

+$1.1700 Dollar/Yen

JPY=EBS

109.3350

109.9800

-0.58%

+5.82%

+110.0350 +109.3250 Euro/Yen

EURJPY=

128.20

128.94

-0.57%

+1.01%

+129.0300 +128.1500 Dollar/Swiss

CHF=EBS

0.9276

0.9325

-0.51%

+4.85%

+0.9333

+0.9271 Sterling/Dollar GBP=D3

$1.3655

$1.3727

-0.52%

-0.05%

+$1.3740

+$1.3640 Dollar/Canadian CAD=D3

1.2820

1.2768

+0.42%

+0.68%

+1.2895

+1.2762 Aussie/Dollar

AUD=D3

$0.7243

$0.7263

-0.28%

-5.84%

+$0.7268

+$0.7221 Euro/Swiss

EURCHF=

1.0878

1.0927

-0.45%

+0.66%

+1.0935

+1.0876 Euro/Sterling

EURGBP=

0.8587

0.8535

+0.61%

-3.92%

+0.8594

+0.8533 NZ

NZD=D3

$0.7022

$0.7035

-0.26%

-2.28%

+$0.7042

+$0.7006 Dollar/Dollar

Dollar/Norway

NOK=D3

8.7395

8.7120

+0.28%

+1.74%

+8.7805

+8.7105 Euro/Norway

EURNOK=

10.2500

10.2008

+0.48%

-2.07%

+10.2815

+10.1995 Dollar/Sweden

SEK=

8.6963

8.6787

+0.18%

+6.10%

+8.7459

+8.6644 Euro/Sweden

EURSEK=

10.1986

10.1804

+0.18%

+1.21%

+10.2336

+10.1755



World FX rates Link



Reporting by Chuck Mikolajczak;
Editing by Bernadette Baum and Cynthia Osterman

Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Gumagamit kami ng cookies para mabigyan ka ng mahusay na karanasan sa aming website. Magbasa pa o palitan ang iyong cookie settings.

Babala sa Risk: Ang iyong kapital ay maaaring malugi. Ang mga produktong naka-leverage ay maaaring hindi para sa lahat. Tingnan ang aming Risk Disclosure.