Wednesday, March 23, 2016

Dollar Rally Sends Gold, Oil Prices Lower as U.S. Stocks Slide



The dollar extended its longest winning streak in a month, while U.S. stocks slid a second day as prices for oil, gold and emerging markets retreated amid increasing speculation that the Federal Reserve is moving closer to raising interest rates.
The U.S. currency gained for a fourth day versus the euro and the yen, sending the Bloomberg Dollar Spot Index higher by 0.7 percent at 4 p.m. in New York. The greenback strengthened versus all 16 major peers, rising 0.4 percent to $1.1178 per euro and 0.1 percent to 112.43 yen.
The pound weakened 0.7 percent to $1.4113, having slid 1.1 percent on Tuesday amid speculation the Brussels terror attacks will boost the case of campaigners who want to see Britain out of the European Union.
Source: Bloomberg

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