Dollar, stocks take hit and gold hits record as trade war panic returns

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Dollar, stocks take hit and gold hits record as trade war panic returns - Channel News Asia

Quick Summary:

The dollar tumbled with most stocks while gold hit a fresh record high as panic gripped markets again on Friday (Apr 11), while China retaliated against Donald Trump's latest tariff blitz against the world's number two economy.

The dollar tanked against the yen, euro, pound and Swiss franc - investors dropping what is usually considered a key safe haven currency as they look to unload US risk assets.

Michael Krautzberger at Allianz Global Investors wrote: "A fall in the dollar could be a sign that markets are questioning its status as a global reserve currency.