The
dollar surged to the strongest level in almost 12 years as the specter
of higher U.S. interest rates and the European Central Bank’s
acceleration of its bond-buying program cascaded through global
financial markets.
The
U.S. currency rallied against 14 of its 16 major peers as national
central banks in the euro region were said to have purchased sovereign
debt for a second day in their quantitative-easing program. The dollar
touched the highest in 7 1/2 years versus the yen and rose to a record
against the Mexican peso.
The
dollar appreciated 1.4 percent to $1.0698 per euro at 5 p.m. in New
York and reached $1.0693, the strongest since April 2003. It touched
122.03 yen, a level unseen since July 2007, before trading little
changed at 121.13 yen.
The
greenback climbed to parity with Switzerland’s franc for the first time
since the Swiss National Bank removed a currency cap against the euro
in January.
Source: Bloomberg
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