US Dollar Gains Support on Complacency Risk – ING

ING strategists Francesco Pesole, Frantisek Taborsky, and Chris Turner note that the US Dollar is seeing broad-based support as markets gradually price in rising geopolitical tensions. They highlight a complacency risk that continues to underpin the greenback.

The analysts observe that the dollar's strength is not tied to a single catalyst but reflects a gradual shift in market sentiment as tensions escalate. This backdrop keeps the dollar bid against most major currencies.