Quick overview

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The dollar reached its strongest level in two weeks following an increase in geopolitical risks following the US move to remove President Nicolás Maduro of Venezuela.

The Bloomberg Dollar Spot Index reached its highest level since December, rising as much as 0.3%. 22nd. The euro fell 0.3 percent, the Mexican peso fell 0.7 percent, and benchmark Treasury yields fell one basis point. As concerns about Venezuela’s future grow following the US’s capture of Maduro and US President Donald Trump’s declaration that Washington intends to “run” the South American nation, traders are turning to the US dollar.

 

The dollar’s course is also anticipated to be influenced by a number of US reports that are due this week, including data on non-farm payrolls and inflation.

According to Christopher Wong, an analyst at Oversea-Chinese Banking Corp., “developments in Venezuela point to a relatively quick closure rather than a prolonged military conflict.”. in Singapore. Given a high volume of labor and survey-related prints this week, data is crucial for the USD, even though the episode maintains the bid for precious metals.