The dollar firmed up this morning after Iran’s rejection of the peace plan reminded markets that this crisis is not ending any time soon. When geopolitical uncertainty rises, money tends to flow towards the dollar, and that pattern has been very much in play throughout March. Tomorrow’s final reading of US economic growth for the end of last year — expected to show a sharp slowdown — might normally weigh on the currency, but for now the safe-haven effect is winning out.
USD/GBP past year
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