, which measures the greenback versus a basket of major currencies, rose by around 0.8% last week, before slipping back Friday following some disappointing economic data. Since mid-January when the outbreak of the new coronavirus took hold, the dollar index is up over 2.5%, and on Monday was trading around 0.14% higher at 99.399.
In an outlook note entitled "The dollar way or the highway," ING strategists flagged an "alternative perspective" behind the recent dollar strength: "that investors are quintessentially lacking alternatives in the G-10 space." "A rebound in the most exposed currencies to China may still not be a story for next week , while grim data should keep JPY and EUR unable to recover," Francesco Pesole, forex strategist at ING, said in the note published Friday. "With no alternatives in G-10, the dollar can hold on to its throne for now.
The Japanese yen, for instance — traditionally viewed as another safe-haven currency — has been hit hard by the spread of the virus. Indeed, the strength of the dollar index last week was driven by a sharp move higher in
Bitcoin is the safest of the safest!!
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Ahhhh no worries, markets will be back up tomorrow
Invest in gold! If you don't understand this with a GOP president running trickle down economics then you don't understand political economics.
Interesting comparison. However, I cannot attest to accuracy of the representation?
Trump visits India despite Coronavirus fears
XRP, Silver, Gold
Gold is the only currency that will remain ... The next struggle will be over gold. The gold stockpile in Syria exists ..Wait until 2021 or 2023, there will be a major economic recession.
God help us once corporations profit on man made viruses coronavirus
Bitcoin is the only safe haven
lifewpenelope i agree ...... the dump in DXY at 9am today almost smells of stevenmnuchin1 acting to prevent a dash to 100 DXY which would have been -1000 Dow Jones
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Source: CNBC - 🏆 12. / 72 Read more »