US dollar advances against major currencies amid Middle East conflict, all you need to know
Israel and Iran are currently stuck in a major geopolitical conflict, with the United States already starting to move its military resources towards the Middle East. Israel launched a barrage of strikes across Iran on Friday, attacking nuclear facilities and missile factories, which made things even worse between the countries. A retaliatory attack is expected from Iran, as per reports.
"Historically speaking, with these kinds of geopolitical events, you get the knee-jerk reaction from the market ... History tells us to kind of look past a lot of this stuff," Jack Janasiewicz, portfolio manager, at Natixis Investment Managers was quoted as telling Reuters.
'There are a couple of things worth highlighting. How long does this operation go for? The longer this goes, obviously the worse it gets for confidence, and that eventually will start to weigh on the market,' Jack continued.
"This (Israel-Iran conflict) just landed on us, but the main concern remains tariffs and obstacles to global trade," Juan Perez, director of trading at Monex USA told.
'When you actually have a physical situation and potential for armed conflict to be prolonged and to escalate, the U.S. dollar and gold jump into safe-haven assets. It's a bit of a psychological reaction,' Perez continued, according to Reuters.
Perez also said that it is difficult to fix every single item that is being faced this year, crushing the US market's ability to believe in the US dollar.
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The Hindu
2 hours ago
- The Hindu
The threat to India's ‘great power' status
Despite U.S. President Donald Trump's claims of having vanquished Iran's enrichment programme, the threat of a U.S.-Israel-Iran war remains alive. A combination of Israeli Prime Minister Benjamin Netanyahu's legal problems, his government's regional agenda, and the neoconservative influence in the U.S. threaten to overwhelm Mr. Trump's instincts towards non-interventionist peace. War would be disastrous for India's economic interests and harm its 'great power' ambitions. If Iran's government is toppled, U.S.-led unipolarity in West Asia would be cemented, precluding the ability of rising powers such as India to grow their strategic footprint. This touches on a fundamental schism between India and the West — Delhi's multipolar world vision. The Trump administration offers an opportunity to address this. What Iran's defeat could mean A restart of the Israel-Iran war with U.S. involvement poses some risk of regime change or Balkanization in Iran. This would dramatically alter the distribution of power in West Asia. There would remain no nation state that is both not U.S.-aligned and controls all of its territory (Ansar Allah does not control all Yemen). Regardless of how benign U.S. intentions towards India are, this would imperil the trajectory Delhi has been following for the last decade, of strengthening its strategic influence in the region. The negotiating power India held with Israel and Gulf States was underpinned by the fact that Delhi also engaged alternatively aligned states such as Syria and Iran. This has already decreased since President Bashar al-Assad's toppling and would nosedive if Iran's government is ousted. All of India's West Asia energy imports would have to be sourced from governments dependent on U.S. security guarantees, rather than from the diverse mix Delhi draws on now. All this would harm India's ability to rise as a great power. 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More fundamentally, India should impress on Washington that the U.S. and its allies can best serve their security and economic interests by accepting global multipolarity. When considering the alternatives of kinetic great power war, or (though less likely) Chinese hegemony over Asia and Africa, multipolarity is far from the worst scenario from the West's view. The present moment offers possibility in this regard. Despite the recent dithering on detente with Russia, Mr. Trump knows he was elected on a compatible foreign policy platform of non-interventionism. Secretary of State Marco Rubio acknowledged early on that the world is moving towards multipolarity. Polls show that Americans, particularly Mr. Trump's base, view the country's vital interests as homeland and near abroad-centred. This translates to tolerance of other poles maintaining hegemony within their own regions. As the most powerful independent state that the U.S. regards as a partner, Indian suasion would carry weight. 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