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Barchart
Barchart
Rich Asplund

Dollar Rebounds from Early Losses on Safe-Haven Demand from Geopolitical Risks

ECB Vladimir Putin United States Russia Muller Panetta Ukraine ECB Governing Council Gold Missile

The dollar index (DXY00) today is up by +0.10%.  The dollar recovered from early losses and moved higher on increased safe-haven demand on reports that Ukraine carried out its first strike on a border region in Russia using Western-supplied missiles and after Russian President Putin approved an updated nuclear doctrine expanding the conditions for using atomic weapons.

The dollar today initially moved lower on weaker-than-expected US housing news on Oct housing starts and building permits.  Also, lower T-note yields today have weakened the dollar’s interest rate differentials.  In addition, strength in the yen weighed on the dollar as USD/JPY fell to a 1-week low today on jawboning from Japan’s Finance Minister. 

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