The US Dollar Index continues to rise as investors are lured by the safe haven appeal of the greenback. The Dollar is consolidating its status as a refuge-asset as a safety-first attitude dominates the foreign exchange markets after the Fed chairman made it clear that the American central bank expects the economic recovery from the coronavirus fallout to be slow. These were sobering words from Jerome Powell, who at the same time added to the American currency’s appeal by ruling out negative interest rates, at least for now.
