SINGAPORE : The U.S. dollar stood by a fresh 20-year peak on Tuesday and just about everything else nursed losses as investors braced for aggressive Federal Reserve rate hikes and a possible recession.
The U.S. dollar index scaled a two-decade peak of 105.29 and was hovering just below that in early Asia trade. The euro sat at its overnight low of $1.0405, while the Aussie steadied at $0.6943."The market was over-invested in the idea that inflation has peaked," said Societe Generale strategist Kit Juckes.
The 10-year yield is below that, at 3.3770 per cent, in a signal that investors fear the rapid tightening path will hurt growth and possibly bring on a recession.
Sensationalism and fear mongering
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