Industry News

Wall Street Jrnl LOGO

Dollar’s Rapid Gain Triggers Angst in Emerging Markets

Developing countries move to stabilize their currencies

By Chelsey Dulaney and Ben Eisen in New York and Yantoultra Ngui in Kuala Lumpur, Malaysia

The dollar extended its powerful rally, spurring central banks in developing countries to take steps to stabilize their own currencies and threatening to create headwinds for the long-running U.S. expansion.

The U.S. currency moved closer to parity with the euro after rising for the 10th straight day, the dollar’s longest winning streak against the euro since the European currency’s inception in 1999. The dollar also moved higher…

Read full article >