Strong US dollar an unstoppable force endangering other currencies


Analysts are concerned the continued rise of the US dollar against global currencies could trigger another global financial crisis not seen since 1997. – EPA pic, October 1, 2022.

THE dazzling rise of the US dollar, which has hit one record after another, is raising fears of a currency crash of a severity not seen since the 1997 Asian financial crisis reverberated around the world.

The Federal Reserve’s rapid, steep interest rate increases and the relative health of the US economy has caused investors to flood into the dollar, driving the greenback up and sending the British pound, Indian rupee, Egyptian pound and South Korean won and others to uncharted depths.


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