Societe Generale analysts say macro data have been overshadowed by Middle East (ME) risks, with investors likely to seek safety in Dollar and Swiss Franc into the weekend absent de‑escalation.

TD Securities strategists Jayati Bharadwaj and Linda Cheng argue the US Dollar can behave like a safe haven again due to the nature of the current shock, even if it is no longer an effortless one.

The US Dollar (USD) eased on Wednesday after a two-day rally drove the US Dollar Index (DXY) near the 100.00 mark. The Greenback ignored the positive employment data and ISM Services PMI as the ongoing war between the US and Iran weights on sentiment.

The US Dollar Index (DXY) slipped about 0.18% on Wednesday, settling close to 98.90 after retreating from the 99.68 high printed earlier in the week.

Brown Brothers Harriman’s Elias Haddad notes the Dollar has retraced part of its recent surge but still benefits from short-term haven demand linked to Dollar funding needs. Rising cross-currency basis points to higher USD borrowing costs as stress lifts demand for short-term funding.

ING’s Chris Turner notes that US data, including ADP jobs, ISM services prices and the Fed’s Beige Book, could reinforce expectations of limited Fed easing in 2026. Turner doubts DXY will sustainably break above 100.35 without an improvement in energy markets.

DBS analyst Philip Wee argues that the recent surge in the Dollar Index (DXY) toward the 100 level looks overstretched after a 2% jump in two sessions.

The US Dollar (USD) is drawing safe-haven support amid sharply escalating tensions in the Middle East, prompting renewed investor concern.

The DXY jumped about 0.55% on Tuesday, rallying to around 99.09 and extending Monday's sharp move higher.

The Dow Jones Industrial Average (DJIA) dropped around 850 points, or 1.7%, to trade near 48,000 at midday Tuesday as escalating conflict in the Middle East sent shockwaves through global markets. The S&P 500 fell 1.62% to 6,770, while the Nasdaq Composite shed 1.72% to 22,357.

OCBC strategists note the Dollar has strengthened on safe-haven demand, positioning unwind and the divide between energy exporters and importers. They stress that the United States’ status as a net energy exporter and largest LNG exporter since early 2026 underpins USD resilience.

Dow Jones futures fall 1.26% to near 48,330 during European hours ahead of the US regular market open on Tuesday. S&P 500 and Nasdaq 100 futures decline 1.20% and 1.51% to near 6,800 and 24,650 at the time of writing.

Rabobank strategist Molly Schwartz highlights that the US Dollar’s strong performance reflects renewed safe-haven demand as geopolitical risks escalate around Iran.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, steadied after registering nearly 1% gains in the previous session, trading around 98.50 during the Asian hours on Tuesday.

The United States, allied with Israel, struck Iran over the weekend, killing Iran’s Supreme Leader, Ayatollah Ali Khamenei.

The DXY jumped about 0.85% on Monday, surging through the 98.00 level to touch a session high around 98.75, its strongest reading in five weeks.

The Dow Jones Industrial Average is trading down around one-fifth of one percent at the time of writing. The S&P 500 is nearly flat, while the Nasdaq Composite has flipped green for the day.

ING’s Chris Turner argues Dollar strength after the Iran attack is justified and likely to persist. He highlights US energy independence versus Europe and Asia, and the risk that higher Oil and natural gas prices damage fossil-fuel importers.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that the US-led military operation against Iran has driven a classic risk-off move, lifting the Dollar broadly while weighing on global equities.

TD Securities’ Global Strategy Team expects the US Dollar to benefit from safe-haven flows as markets react to the Iranian conflict. They anticipate that geopolitical risks will drive expectations for more Fed easing and note broad but measured Dollar buying in early trading.

HSBC Asset Management notes a spike in the policy uncertainty index on recent US trade and Federal Reserve headlines, even as US stocks range-trade and volatility stays contained. The team sees US growth near trend, with sticky but gradually moderating inflation through 2026.

Dow Jones futures fall 1.43% to near 48,300 during European hours ahead of the US regular market open on Monday. S&P 500 and Nasdaq 100 futures decline 1.42% and 1.74% to near 6,790 and 24,570 at the time of writing.

BNY’s Head of Markets Macro Strategy Bob Savage highlights that U.S. ISM surveys, PMIs and the jobs report will be central for Dollar and rates pricing this week.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, depreciated after reaching five-week highs, hovering around 97.90 during the Asian hours on Monday.

S&P 500 futures slid more than 1% to 6,820 during Asian trading hours, ahead of the US regular session open. Equity futures came under pressure after the United States (US) and Israel carried out coordinated strikes on Iran over the weekend, heightening risk aversion.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 98.00 during the early Asian trading hours on Monday.

The US Dollar (USD) lost ground this week amid geopolitical uncertainty and the United States (US) trade policy developments after the Supreme Court ruled the Trump administration's tariffs illegal and he responded with a fresh round of levies.

DXY fell about 0.2% on Friday, grinding back into 97.60 after a hotter-than-expected Producer Price Index (PPI) report amplified concerns that inflation is proving stickier than the Federal Reserve (Fed) would like, weighing on growth expectations and dragging the Greenback lower.

The Dow Jones Industrial Average fell 600 points, or 1.15%, tumbling back below 49,000 on Friday, capping off a turbulent final trading week in February. The S&P 500 dropped around 0.7% while the Nasdaq Composite lost roughly 0.9%.

The US Dollar Index (DXY), which tracks the Greenback's value against a basket of six major currencies, shows a limited reaction to the stronger-than-expected US Producer Price Index (PPI) data. At the time of writing, the index trades near 97.65, easing from the daily high around 97.85.