Home News Russia-Ukraine crisis

US dollar rises against almost everything on deepening conflict in Ukraine

Bloomberg
Bloomberg2/28/2022 11:20 AM GMT+08  • 3 min read
US dollar rises against almost everything on deepening conflict in Ukraine
“USD is king, offering liquidity and safe haven attributes,” said Rodrigo Catril, a currency strategist at National Australia Bank
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

The US dollar is rising against virtually every peer as fallout from the deepening conflict in Ukraine supercharges demand for the world’s reserve currency. Treasuries also rallied.

The Norwegian krone and Swedish krona tumbled more than 2%, the worst performers among the Group-of-10 currencies. The risk-off move saw S&P 500 futures drop almost 3%, while traders braced for contagion in emerging markets by selling every developing currency.

“USD is king, offering liquidity and safe haven attributes,” said Rodrigo Catril, a currency strategist at National Australia Bank Ltd. in Sydney. “When trouble hits the road, you need to look for cover.”

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.