Salem Radio Network News Wednesday, October 20, 2021

Business

U.S. equity futures rise, dollar sinks on Evergrande media report

LONDON (Reuters) – U.S. equity index futures kicked higher and the U.S. dollar’s losses widened against its rivals after a Bloomberg news report that financial regulators in Beijing told embattled property developer China Evergrande to avoid a near-term default on its dollar bonds.

Versus a basket of its rivals, the greenback fell to 93.14 while U.S. stock index futures extended gains to 0.8% in London trading.

“A little bit of risk-on moves but in reality it is really quiet. People think Beijing will ‘solve’ Evergrande by kicking the can down the road,” one trader said.

(Reporting by Danilo Masoni and Saikat Chatterjee; Editing by Rachel Armstrong)

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