Dollar At 13 Month High As Rate Hike Bets Stock Rout Boost Demand
Economic Times
The U.S. dollar surged to a 13-month high, driven by a tech stock sell-off and anticipation of Federal Reserve rate hikes
. Investors are flocking to the dollar as a safe haven amid global market jitters. Markets are now pricing in a higher probability of interest rate increases in July and September, further bolstering the greenback's strength against major currencies like the euro and yen.
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