USD – The dollar rose on Monday, lifted by safe-haven flows after the United States and European allies considered banning Russian crude imports, causing uncertainty over the global growth outlook as oil prices hit 14-year highs.
Oanda noted that “The Russia-Ukraine conflict is continuing to lead to further surges across several commodities, which is threatening growth prospects for the year… There are a growing amount of jilters that will probably keep the dollar supported, as you’re going to see the Us economy is still nicely positioned in the short term because it’s not as dependent on Russian energy supplies as Europe is.”
Oanda noted that “The Russia-Ukraine conflict is continuing to lead to further surges across several commodities, which is threatening growth prospects for the year… There are a growing amount of jilters that will probably keep the dollar supported, as you’re going to see the Us economy is still nicely positioned in the short term because it’s not as dependent on Russian energy supplies as Europe is.”