Dollar Strengthens Against Almost Everything on Russia Sanctions

A digital sign displays currency exchange rates in the window of a Fora-bank JSC bank branch in Moscow, Russia, on Feb. 24. Photo: Bloomberg

(Bloomberg) — The dollar is rising against virtually every peer as fallout from the sanctions levied against Russia supercharge demand for the world’s reserve currency. Treasurys also rallied.

Traders are piling into the most liquid asset as sanctions on Russia’s central bank and lenders reverberate through global markets, with talk that the Federal Reserve may have to intervene in global markets. U.S. and European stock futures fell, while currencies from the euro to the rand dropped.