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Dollar on a record rally, outperforms other currencies! 

The U.S. dollar pushed to a fresh 20-year high after the Federal Reserve’s interest-rate decision today!

Market anxiety over Russia’s escalation in the war in Ukraine also drove investors to seek shelter in the safe-haven currency.

After Mr. Putin’s announcement, the euro was 0.7% weaker against the dollar, falling below parity.

Tweet on latest currency market swings

The Dollar Index was up 0.3%, after closing at the highest level since February 2002 

The euro slipped 0.4% to $0.9930 against the greenback.

The British pound extended its declines after hitting a 37-year low against the dollar last week, slipping 0.32% to $1.1345.

The dollar’s rise came alongside a rise in global oil prices. That’s a notable change from the past few months, as the dollar and oil have been moving in opposite directions since June.

A stronger U.S. currency intensifies demand for crude and other commodities priced in dollars because they become more expensive for other countries to buy.

source:Insider Intelligence
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