Dollar Jumps On War, But Treasuries Are No Safe Haven

2026-03-02 08:23:00 ET

There is one fundamental driver today and that is the Middle East war. After finishing last week on a soft note, the greenback ( DXY ) has rallied. It is up by 0.5% or more against most of the G10 currencies. The Canadian dollar ( FXC ), which often performs relatively better in a strong US dollar environment, is off by about 0.1% in late European morning turnover. The Swiss franc ( FXF ), a traditional safe haven, is off around 0.65%. April WTI, which settled near $67, surged to almost $75.35 initially and is now around $72. Equities are mostly lower....

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