Dollar rampage spurs forex interventions, talk of big G7 move [Reuters]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
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Source: Reuters
Dollar rampage spurs forex interventions, speculation of big G7 move LONDON (Reuters) - From Brazil to Norway, policymakers are leaping to defend currencies against the onslaught of the dollar which scaled three-year peaks on Thursday, raising speculation that a joint move by the world’s biggest central banks may be in the offing. Unlikely, most market-watchers say. But these are unusual times, and Norway’s central bank earlier in the day threatened to intervene to lift the crown, a step it hasn’t taken in more than 20 years. The warning followed the crown’s 30% plunge versus the dollar in less than three weeks, though oil’s price collapse contributed. But the dollar’s brutal ascent — up 6.5% this month against a basket of peers — has sent almost every other currency reeling. Amid the crisis caused by worries about how badly the coronavirus pandemic will hit the world economy, investors and companies around the world have been scrambling to get their hands on the market’s most liquid
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