Evergrande fears trigger sharp market movement

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Evergrande fears trigger sharp market movement

The pound has hit a one month low against the US dollar amid fears that Chinese property developer Evergrande could be approaching a collapse, triggering a market crash.

1 minute read

Following an acute global sell-off, the indebted real estate giant has vowed to make repayments on Thursday, which has momentarily moderated investors’ moods, who now await news on whether the US Fed will step in with a decision to begin tapering.

GBP/USD remains at a low as the US dollar stands strong in the run up to the Fed’s meeting. Further market volatility may be expected, and a risk rally appears likely.

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