The Dollar has reclaimn¡med its traditional safe-haven status, with investors rushing away from risk on concerns about the possibility of a wider conflict in the Middle East after this weekend’s attack on Iran’s nuclear sites. The US Dollar is the strongest of the G8 currencies on Monday.
The Dow Jones Industrial Average (DJIA) is churning the charts in near-term consolidation, stuck near the 42,350 level as investors hunker down and await the Federal Reserve’s (Fed) latest rate call.
The US Dollar Index (DXY), which measures the value of the Greenback against a basket of six major currencies, is trading slightly lower on Wednesday after gaining about 0.7% the previous day.