Dollar hits two-decade high amid rising US rates, Ukraine war, China’s lockdowns

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Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The dollar hit a two-decade high on Monday as investors searched for safety and yield due to growing concerns over slowing global economic growth and rising interest rates. Surging inflation, the war in Ukraine, and tighter lockdowns against COVID-19 in Beijing and Shanghai, have left investors uncertain on many counts, but they are sure that U.S. interest rates are going up — and the dollar is following. “Moves in U.S. interest rates are not the only dollar support,” said strategists at NatWest Markets in a note. “Downside risks to global growth stemmin…

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