Currencies: U.S. dollar hits 2-year high as investors flee stock market, commodities slump

25 April 2022

The U.S. dollar was a prime beneficiary of a flight to quality Monday, with a closely followed index trading at its highest since March 2020 as expanding COVID-19 lockdowns in China and growing expectations for outsize rate increases from the Federal Reserve saw global equities continue to skid and commodity prices plunge.