One US Asset Is Gaining Strength From the Iran War: the Dollar
The world’s reserve currency has risen 2.2% since the war in Iran began.
Show of strength.
Photographer: Atta Kenare/AFP
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In a conflict with few winners, the dollar’s surviving hegemony stands out. The greenback has risen 2.2% since the US and Israel began their coordinated attacks on Iran. That’s consequential after the world’s reserve currency dropped more than 8% last year — but despite appearances, it’s premature to declare this a turnaround.