Dollar Emerges as Latest Victim of This Week's Markets Mayhem [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance Canada
(Bloomberg) -- The dollar has emerged as the latest victim of this week's market turmoil as a worsening global trade war risks derailing US economic growth. Most Read from Bloomberg A Bloomberg gauge of the greenback tumbled to a fresh six-month low Friday after China raised tariffs on all US goods from 84% to 125% with effect from April 12. Options traders turned bearish for the first time in five years as part of a broader exodus from US assets as trade tensions between the world's two largest economies continued to intensify. Havens such as the yen, Swiss franc and gold benefited from the outflows while the euro rose to its strongest in three years. “Dollar confidence is under threat,” said Christopher Wong, a foreign-exchange strategist at Oversea-Chinese Banking Corp. Doubts are growing about the greenback's status as a reserve currency due to factors including fading US exceptionalism and ballooning US debt, he added. Traders are not only losing confidence in the doll
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