The U.S. dollar climbed higher on Monday, scoring fairly strong gains over some of its major counterparts, as investors picked up the safe-haven currency amid rising fears about a possible recession, and aggressive rate hikes by the Federal Reserve.
The dollar has been gaining in strength in recent sessions, riding on remarks from several Federal Reserve officials that the central bank needs to be aggressive with monetary tightening to tame inflation. The focus is now on the Fed's Jackson Hole, Wyoming, symposium, set to take place this week.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com