Recession Fear Puts Dollar on Course for Biggest Gain Since 2020 [Business News Network (BNN) (Canada)]
CREDIT AGRICOLE UNSP/ADR (CRARY)
NASDAQ:AMEX Investor Relations:
credit-agricole.com/en/finance/finance
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Source: Business News Network
The greenback steamrolled almost everything before it on Tuesday, rising more than 1% against most major developed market peers and there was increasing speculation that it might soon reach parity with the euro. The Bloomberg dollar index, which measures it against a basket of major counterparts, climbed as much as 1.2% and was on course for its best day since June 2020. Fear that a tightening of global monetary policy might hurt the economy helped spur a selloff in riskier markets on Tuesday, while growing concern about the energy crisis in Europe is weighing on assets there. Equities slumped in Europe and the US, while crude oil dived. Treasuries rallied, dragging US rates down, but that did little to dent appetite for the greenback as yields in Europe and elsewhere tumbled even more. Investors typically flock to the world's biggest reserve currency in times of distress and that is helping to support the greenback along with expectations that interest rates in the US will remai
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