USD: Safe-haven support as conflict risk builds – MUFG

MUFG’s Derek Halpenny notes that the US Dollar’s initial weakness after President Trump extended the pause in attacks on Iran’s energy assets has been short-lived, with DXY only slightly lower. MUFG’s Derek Halpenny notes that the US Dollar’s initial weakness after President Trump extended the pause in attacks on Iran’s energy assets has been short-lived, with DXY only… MUFG’s Derek Halpenny notes that the US Dollar’s initial weakness after President Trump extended the pause in attacks on Iran’s energy assets has been short-lived, with DXY only slightly lower. MUFG’s Derek Halpenny notes that the US Dollar’s initial weakness after President Trump extended the pause in attacks on Iran’s energy assets has been short-lived, with DXY only slightly lower. He argues that if risk-off intensifies, especially with Brent crude Oil in a higher range and equities falling, the Dollar should strengthen further in the short term despite a poor longer-term backdrop.Dollar seen benefiting from risk-off"The price of Brent crude… For traders, the practical value is less about the headline alone and more about how it changes context, sentiment and the quality of the next decision. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.