Dollar pares losses on Chinese stock exchanges move

07 Jan, 2016

NEW YORK: The dollar trimmed losses against a basket of currencies on Thursday after the Shanghai and Shenzhen stock exchanges said China will suspend its new market circuit breaker mechanism, which was tripped for a second time this week.

The suspension of the circuit breaker is seen as a move to instill confidence among investors about the Chinese stock market, whose rout this week has spilled across equities markets worldwide.

The dollar index, which measures the greenback against a group of six currencies, was last down 0.5 percent at 98.722.

Copyright Reuters, 2016

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