Home News Beijing added fuel to the fire. China is saving a fragile economy by sinking others

Beijing added fuel to the fire. China is saving a fragile economy by sinking others

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Beijing added fuel to the fire.  China is saving a fragile economy by sinking others

The economic slowdown in China, which is devaluing its own currency, is also dragging down the Australian dollar.  PHOTO: REUTERS

The economic slowdown in China, which is devaluing its own currency, is also dragging down the Australian dollar. PHOTO: REUTERS

A composite indicator of investors’ positions in the Australian dollar showed the most selling pressure since at least 1995.

Speculative investors raised bearish bets on the Australian dollar to record levels. The reason is growing nervousness related to economic and monetary developments in China.

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And this has worsened the risk position of the Australian dollar, which, according to the Basel Bank for International Settlements, is the sixth most traded currency in the world, but is linked to China by trade lines.

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