Dollar Gains as Stock Drop Saps Demand for Growth-Related Assets
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The dollar advanced against most of its major counterparts, advancing from a record low against the Australian currency as a drop in U.S. stocks sapped demand for assets related to global economic growth.
Sweden’s krona touched the highest level in more than two years versus the dollar on bets the Riksbank will increase borrowing costs further after last week’s boost. The Swiss franc traded at its strongest level in 40 years against the greenback as investors sought an alternative to the U.S. currency.