Pound sterling is set for its best weekly performance of the year against the dollar, helped by a soft U.S. inflation print.
Dollar Could Be Iran War's Biggest Victim
- Category: USD
The Iran war is "backfiring" on the U.S. dollar says a new analysis from Handelsbanken, which warns the currency could struggle to perform its traditional safe haven function.
The pound-dollar exchange rate is up 1.77% this week, but analysts at Citi warn the dollar isn't done.
"The dollar is riding a wave of positioning that history suggests cannot hold," says Karl Schamotta, Chief Market Strategist at Corpay.