THE rise of the US dollar index to its highest in two decades on the back of aggressive US Federal Reserve interest rate hikes is causing turmoil in financial markets, with most major currencies weakening by a huge magnitude against the greenback.
US House Speaker Nancy Pelosi’s visit to Taiwan is the latest trigger point to strain US-China ties again. Calling the visit a provocative move by the US, China fired ballistic missiles and deployed fighter jets and warships in military drills that encircled Taiwan. The US’ and China’s next course of action will be closely monitored to gauge potential signs of further escalation in the trade war between the two countries.