Moreover, traditional safe-haven currencies were appreciating on the heightened volatility in the U.S.
“When you have a selloff in risk, Europe tends to appreciate,” Steve Englander, director and global head of G10 FX strategy at Citigroup, told Reuters. “I think that’s why we’re seeing euro strength and European currency strength. But everything correlated with risk is selling off badly.”
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Max Chen contributed to this article.