Reported 8 months ago
The dollar is nearing a 2024 high due to increased US Treasury yields and investors seeking safety amidst political uncertainty in Europe. The Bloomberg Dollar Spot Index is close to levels last seen in November, indicating potential for further strength. The premium for hedging against the US dollar has risen, reflecting its safe haven appeal. While France's political situation seems to be stabilizing, the recent turmoil has kept investors vigilant, with the dollar advancing for four consecutive weeks. Traders are advised to monitor US economic data and the upcoming US election which could impact market sentiment and the dollar's performance.
Source: YAHOO