Dollar regains momentum amid geopolitical factors – Scotiabank

101 finance2026/03/20 14:00

By:101 finance

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US Dollar Strengthens Amid Heightened Geopolitical Tensions

According to Scotiabank’s global FX strategy team, the US Dollar has gained significant ground as G10 currencies shift back to patterns observed during the initial phases of the US-Iran conflict. This resurgence reflects growing caution in the markets, with investors reevaluating the risks of an extended conflict, the direction of central bank policies, and sharp movements in bond yields.

Market sentiment remains fragile following recent attacks on key Iranian gas sites and vital Qatari LNG export hubs. These events have prompted both traders and policymakers to brace for the possibility of a drawn-out conflict and a longer recovery period from ongoing disruptions.

Bond yields have surged notably in recent days, with the UK experiencing particularly dramatic fluctuations. This volatility has been fueled by the Federal Reserve’s cautious stance, a more hawkish approach from the European Central Bank, and an unexpected policy reversal by the Bank of England.

For the Federal Reserve, expectations for interest rate cuts have diminished, with futures markets now anticipating minimal policy shifts through at least September 2027.

In commodity markets, oil prices have shown mixed trends. WTI crude appears to be stabilizing around the mid-$90 per barrel mark, while Brent crude has rallied sharply, nearing $100 per barrel amid escalating geopolitical tensions. Meanwhile, gold and copper are beginning to show technical signs of steadiness after recent volatility.

(This report was produced with assistance from artificial intelligence and subsequently reviewed by an editor.)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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