Surging $US playing havoc with financial markets and global trade
27 Sep 2022 - US equities sank as the US dollar hit a record high against the British pound, adding volatility to markets already concerned with inflation, rising interest rates, and a possible recession. It appears the turmoil is continuing in the currency markets with the Federal Reserve’s aggressive hiking campaign, coupled with the UK’s tax cuts announced last week that has caused the US dollar to surge.