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Dollar's surge leaves a trail of destruction
By Saikat Chatterjee and Sujata Rao
Reuters
Friday, April 29, 2022
LONDON -- The dollar's race to two-decade highs is leaving a trail of destruction in its wake, exacerbating inflation in other countries and tightening financial conditions just as the world economy confronts the prospect of a slowdown in growth.
This year's 8% gain by the dollar against a basket of currencies is driven partly by bets that the U.S. Federal Reserve will raise interest rates faster and further than other developed countries, and partly by its status as a safe haven in times of turbulence.
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It is also supported by Japan's reluctance to ditch its super-easy policies, and fears of recession in Europe.
Here are some areas affected by the dollar's muscle-flexing. ...
... For the remainder of the report:
https://www.reuters.com/business/dollar-surge-leaves-trail-destruction-2022-04-29/
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