Currency: Bank of America Explains Why the US Dollar Is Rising

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The US dollar is the top-performing currency this week, outperforming leading currencies like the Pound Sterling, Chinese Yuan, Indian Rupee, and Japanese Yen. The rise in the US dollar can be attributed to the Federal Reserve's decision to not cut interest rates and the ongoing turmoil in the Middle East between Iran, Israel, and Palestine. Institutional investors are moving their investments to safe havens like the US dollar, gold, and copper due to fears of a market crash. The US economy's better performance compared to other regional blocs, including the Eurozone, is also contributing to the strengthening of the US dollar. Geopolitical conflicts in the Middle East lead to a flight to quality assets, benefiting the US dollar. The shocks in the Middle East have a bigger effect on Europe and Japan, but not as much on the US due to its energy independence.

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