The U.S. dollar hit more than a one-month high on Monday as investors sought a safe haven due to concerns about China's economy, and traders braced for possible Japanese government intervention after the yen hit its lowest level since November.
The dollar index , which tracks the currency against its major peers, was up 0.301% at 103.170, hitting its highest level in more than a month.
A source told Reuters that Country Garden, China's largest private developer, is seeking to delay payment on a private onshore bond for the first time, in a new sign of stress in the sector.
Meanwhile, two Chinese listed companies said at the weekend they had not received payment on maturing investment products from asset manager Zhongrong International Trust Co.
Japan's yen was trading at its lowest level since November at 145.50 per dollar, with the dollar up 0.36% against the currency.
The Bank of Japan has stuck to its ultra-loose monetary policy as other global central banks hiked interest rates, making returns in other countries look more attractive and weighing heavily on the yen.
Japan intervened in currency markets in September when the dollar rose past 145 yen, prompting the Ministry of Finance (MOF) to buy the yen and push the pair back to around 140 yen. The yen is down nearly 10% against the dollar for the year.
The Australian dollar slid to its lowest level since May and was last down 0.28% versus the U.S. dollar at $0.648. The currency is often seen as a proxy for investor sentiment on China.
Sterling was last down 0.16% to $1.2676, while the euro was 0.38% lower at $1.09045.
Source : Reuters
