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Dollar Surges on Funding Crunch as Virus Roils Global Equities


Monday, 23 March 2020 09:17 WIB

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The dollar rose against major currencies on Monday as fresh declines in global stocks and worries about tightening liquidity amid the worsening coronavirus crisis accelerated the flight to cash.

The dollar rose against sterling toward its strongest since at least 1985.

Against the antipodeans, the greenback rose toward a 17-year high against the Australian dollar and approached an 11-year peak against the New Zealand dollar as investors dumped riskier assets.

The dollar rose 0.96% against the pound to $1.1559, approaching the strongest since at least 1985.

The greenback closed in on multi-year highs against the Australian and New Zealand dollars.

Against the yen, the currency rose 0.11% to 110.92.

The dollar has also surged against many emerging market currencies, highlighting the growing sense of risk aversion across the globe.

Source : Reuters


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