FILE PHOTO: A picture illustration shows U.S. 100dollar bank notes
SINGAPORE: Safe haven currencies like the U.S. dollar and the yen were in demand on Thursday on renewed fears of a global banking crisis, after contagion from the implosion of U.S.-based Silicon Valley Bank spread across the Atlantic to Swiss bank Credit Suisse.
In the latest blow to investors' confidence in the financial sector, Credit Suisse's shares on Wednesday plunged as much as 30%, after its largest shareholder said it could not provide further support to the bank.
