US dollar rises to 20-year high – euro and yen under pressure

U.S. dollar

Money managers often advise buying the dollar.

(Photo: The Image Bank/Getty Images)

Dusseldorf The soaring of the world reserve currency continues. The dollar index, which tracks the rate against major currencies, rose 0.3 percent on Thursday to 111.79 points, the highest it was in just over 20 years. “What else can you buy right now but the dollar,” asks Sally Auld, chief investor at wealth manager JB Were. “The Fed will not stop raising interest rates anytime soon.”

Other stockbrokers also point to the attractiveness of the dollar as a “safe haven” against the background of the looming recession in Europe, the weakening Chinese economy and the ongoing war in Ukraine.

Euro falls to 20-year low

The euro continues to be under pressure on the financial markets. On Thursday night, the common currency fell to $ 0.9809, its lowest level in about 20 years. The European Central Bank (ECB) had set the reference rate a little higher on Wednesday afternoon at $0.9906.

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