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Bloomberg/Michelle Jamrisko/3-17-2020
“Investors are fleeing emerging markets in record numbers and piling into the safe-haven greenback, with two emergency interest-rate cuts this month by the Federal Reserve doing nothing to diminish the dollar’s appeal.”
USAGOLD note: The dollar’s V-shaped recovery comes as a surprise and will weigh heavily on emerging states having to make principal and interest payments on dollar-based debts. It has also been a key influence in gold’s selloff today.
