The dollar hit a 14-year high against a basket of currencies on Wednesday as a post-U.S. election sell-off resumed across global bond markets, lifting Treasury yields and attracting investors to the U.S. currency. That halted stocks in their tracks, with Europe’s main indices down as much as 0.8 percent and Wall Street expected to open 0.5 percent lower.
The Bank for International Settlements this week repeated its view that a stronger dollar poses risks for global markets and financial stability. Investors have largely shrugged off these warnings but stocks felt the heat of the dollar’s latest rise on Wednesday. FULL REPORT