The U.S. dollar surged against major currencies as stress in the market for dollar funding outside the U.S. worsened before the Federal Reserve stepped in on Tuesday to boost support for the short-term money market. The dollar rose against most currencies Tuesday, an unusual flight that is normally only seen in the most stressful market periods. It climbed more than 1% against the euro and British pound. It advanced similarly against the yen and the Swiss franc, currencies that tend to strengthen—not weaken—in times of market...

Source: Wall Street Journal March 17, 2020 12:26 UTC