Dollar Gains on Safe-Haven Demand and Higher Yields: BNY
BNY's Bob Savage notes escalating Middle East tensions and rising U.S. Treasury yields are driving risk-off flows, supporting the Dollar at two-month highs.
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Bob Savage of BNY highlights that the US Dollar is benefiting from a safe-haven bid amid escalating Middle East tensions and a surge in US Treasury yields. The combination of geopolitical uncertainty and higher returns on US debt is fueling risk-off sentiment, which typically boosts demand for the greenback.
The Dollar has reached its highest level in two months, supported by these macro factors. The ongoing conflict in the region and the upward pressure on yields are expected to keep the currency well-bid in the near term, according to Savage.
Source: FXStreet Forex News