FOREX-Dollar rises on safe-haven demand as oil-linked currencies fall [Reuters]
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Source: Reuters
FOREX-Dollar rises on safe-haven demand as oil-linked currencies fall * Oil price drop sinks oil-linked currencies * Dollar index hits 2-week high before paring gains (Updates to U.S. afternoon) By Saqib Iqbal Ahmed NEW YORK, April 21 (Reuters) - The U.S. dollar rose to a two-week high against a basket of currencies on Tuesday as investors fled riskier assets amid a slump in oil prices that sapped demand The U.S. Dollar Currency Index, which measures the greenback’s strength against six other major currencies, was 0.24% higher at 100.19. The index hit a two-week high of 100.48 earlier in the session. U.S. crude oil futures moved into negative territory for the first time on Monday, as a sharp fall in global fuel use due to the coronavirus pandemic creates a supply glut and a shortage of storage capacity. Factory closures and travel curbs enforced to slow the pace of new coronavirus infections have triggered a collapse in oil prices. This is drawing money from commodity currencies and
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