U.S. Dollar Surges Over 2% Amid Iran‑Israel Strikes
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- U.S. and Israeli strikes against Iran on Feb. 28 triggered the Middle East conflict that has impacted markets.
- U.S. dollar traded near one of its strongest levels in months on Monday, reflecting the conflict’s effect.
- DXY has jumped more than 2% in March, pressing the top of a nine‑month range.
- Stephen Innes of SPI Asset Management in Bangkok noted the index is now at the top of a nine‑month range.
- Gold and other traditional havens have underperformed since the strikes, with the dollar’s strength weighing on gold prices.
Why it matters: The dollar’s rally gives U.S. investors a stronger currency hedge and boosts dollar‑denominated assets, while gold and Treasury investors see weaker returns, prompting a shift of capital toward the greenback and away from traditional safe‑haven assets amid rising inflation concerns.
