US Dollar has beaten major currencies in Q1, Up 2.8% on record safe-haven inflows.
Newonline reports that the greenback rose on Thursday as a lack of progress in peace talks between Russia and Ukraine increased demand for safe-haven currencies and as the United States released the most oil from its emergency reserve in an attempt to cushion the impact of the war on energy demand.
In after-hours trading, the dollar index rose 0.492% to 98.31, weighing the greenback against a basket of six global peers.
As a result of Russia’s invasion of Ukraine on Feb. 24, the dollar has attracted safe-haven influxes, and it is on track for a rise of around 1.6% for the month of March, and around 2.8% for the first quarter.
That being said, the ECB is unlikely to make specific commitments on how to combat inflation until the energy crisis and considerable economic effects of the Ukraine war are no longer present. As a result, the euro will also take some time to appreciate on a sustainable basis.
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