US Dollar continues to rise

New York (Mar 22)  The US dollar rose sharply against its main rivals for a second straight session and set fresh two-week highs against the euro. Adding to the US dollar’s safety allure was another step in the direction of more aggressive sanctions against Russia as the crisis in Ukraine remains at the forefront of market worries. The euro’s March rally continued to unravel, with the single currency driven lower largely because of a resurgent US dollar. Sterling fell further against an increasingly stronger US dollar as investors consider a sooner rate hike from the US Fed.