The U.S. dollar’s unwelcome surge relents — will it resume?
A calmer dollar could go a long way toward taming the extreme volatility that has rocked financial markets as investors deal with the COVID-19 pandemic, investors and economists say. The ICE U.S. Dollar Index (DXY) , a measure of the U.S. currency against a basket of six major rivals, was off 0.5% Friday at 102.27 after hitting a series of more-than-three year highs earlier in the week. “Like it or not, the U.S. dollar is the world’s reserve currency and, therefore, the axis upon which the global financial system turns,” said Matt Weller, global head of market research at GAIN Capital, in a note.
The U.S. dollar’s unwelcome surge relents — will it resume?
A calmer dollar could go a long way toward taming the extreme volatility that has rocked financial markets as investors deal with the COVID-19 pandemic, investors and economists say. The ICE U.S. Dollar Index (DXY) , a measure of the U.S. currency against a basket of six major rivals, was off 0.5% Friday at 102.27 after hitting a series of more-than-three year highs earlier in the week. “Like it or not, the U.S. dollar is the world’s reserve currency and, therefore, the axis upon which the global financial system turns,” said Matt Weller, global head of market research at GAIN Capital, in a note.