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The Dollar Show
- From a currency market perspective, the Middle East conflict has corresponded with a strengthening in the dollar.
- The dollar’s ascent started to take shape over the course of February as markets positioned for a possible breakout of military action between the US and Iran (war commenced on the 28th).
- The dollar’s appeal as a safe haven during periods of heightened uncertainty has interlinked with the energy price shock arising from the Middle East conflict.
- Looking ahead, the outlook for the dollar will be heavily influenced by the evolution of the US-Iran war and, by extension, the trajectory of oil prices.
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