Home Finance Strong Dollar Extends Gains With No End to Rally in Sight

Strong Dollar Extends Gains With No End to Rally in Sight

by Enochadmin

Fears of a world recession and deepening woes in Europe are pushing the greenback greater, and few on Wall Road count on to see a change in its trajectory quickly.

After the U.S. foreign money’s strongest first half in over a decade, traders sheltering from falling shares and betting on U.S. financial resilience have helped energy a continued fast ascent. The WSJ Greenback Index, which measures the greenback towards a basket of 16 currencies, hit a brand new 20-year excessive final week and is up almost 2.5% this month. The euro traded beneath parity with the greenback for the primary time since 2002, and the Japanese yen is depreciating to lows unseen because the finish of the twentieth century.

Source link

Related Articles

Leave a Comment