The plight of crude oil yesterday painted the most vivid illustration so far of the havoc being reeked in financial markets by the economic fallout from the coronavirus. The US dollar emerged as one of the ‘winners’ in this unprecedented situation, becoming the clear choice for investors when turbulence and uncertainty take over. The Dollar Index climbed more than 0.3% during the early part of Tuesday’s session, gaining ground against other currencies in a clear safe-haven trade by concerned investors, as market sentiment turned bearish following the plunge of the May contract of WTI crude oil to negative prices. In the current environment more greenback gains are likely.
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