Dollar Lifted by Safe-Haven Demand, Fed Remarks
By
Renae Dyer, Dow Jones Newswires
The dollar rose to a 13-month high on safe-haven flows and cautious remarks from a Federal Reserve official about prospects for interest-rate cuts, ING analyst Francesco Pesole said in a note.
“Markets are clearly taking the escalation in the Russia-Ukraine war more seriously, which is favouring a broader rotation to [safe] haven assets like the dollar,” he said.
Fed official John Williams also likely supported the dollar by saying the U.S. isn’t quite there yet on inflation and the jobs market needs to cool further.
