If there’s one currency ‘aggravating the selloff in global asset markets, it is the U.S. dollar’: strategist
by William Watts
The U.S. dollar continued to surge against practically everything on Wednesday, underscoring a desperate global dash for liquidity that was blamed for amplifying a worldwide equity selloff and volatility across financial markets.
“If cash is king, then dollar cash currently is world president. Everything that could be sold was sold against the dollar,” said Chris Turner, global head of markets at ING, in a note. And that’s not a welcome development right now