Dollar rules as recession fears hit euro, pound under fire

Published by
Reuters UK

By Rae Wee and Alun John SINGAPORE/HONG KONG (Reuters) – The dollar stood tall on Wednesday, holding at a 20-year peak against the euro and multi-month highs against other major peers as higher gas prices and political uncertainty renewed recession fears and sent investors scrambling to the safe-haven currency. The euro was at $1.0262, only a fraction above its overnight low of $1.0236, its weakest since late 2002. Sterling was also trading down slightly at $1.1965 just off its 18-month intraday low hit overnight, and the Aussie dollar was under pressure at $0.6816. “There’s no investment case…

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