The greenback on Monday began the week just off a 20-year high against peers, as investors sought safety due to concerns over global growth, while cryptocurrency markets showed some stabilization after last week’s turmoil.
Following six consecutive weeks of gains, the dollar index was at 104.54, briefly crossing the 105 level on Friday. A mounting global growth concern is supporting broad dollar strength.
On concerns about the U.S. Federal Reserve’s ability to dampen inflation without causing recession as well as the effects of China’s zero-COVID-19 policy, investors have been flocking to safe-haven currencies.
