Dollar near 20-year highs amid global markets rout

Published by
Reuters UK

By Iain Withers LONDON (Reuters) – The dollar index hovered near 20-year highs against major peers on Friday, as market sell-offs in the face of global recession fears propped up the safe haven currency. European stocks opened lower and were heading for their worst week in two months, following a rout on Wall Street. The U.S. currency has stood tall on expectations the Federal Reserve will tighten monetary policy faster than peers to stem runaway inflation. A closely-watched U.S. jobs report due later on Friday could strengthen the case for aggressive tightening, analysts said. Economists pred…

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