Currencies: The US dollar is the overwhelming choice
The US Dollar is the overwhelming choice for the worried global economy as Demand for the greenback drives currency trading, Joseph Trevisani from FXStreet reports.
“Markets around the world have crashed as investors, hedge funds and corporations have liquidated holding for cash trying to stockpile the asset most useful in adversity, the US dollar, sending its value soaring.”
“Commodity currencies fared the worst with markets forecasting far lower demand for resources in the months ahead.”
“Only the partial safe-haven currencies of the Swiss franc and Japanese yen were somewhat insulated from the strengthening US dollar.”