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- ING says the dollar's role "as a safe-haven currency should not be overstated given its large negative net international investment position"
ING says the dollar's role "as a safe-haven currency should not be overstated given its large negative net international investment position"
The dollar has been rising in recent days as trade war concerns re-emerged, helped partly by the U.S. currency's safe-haven status. However, ING says the dollar's role "as a safe-haven currency should not be overstated given its large negative net international investment position." Against the current account surplus currencies, such as the euro and the Japanese yen, the dollar should fall in risk-off scenarios like this and if there is a sustained move lower in global markets, says ING. "The euro may have been pro-cyclical in recent months...but if things were to get worse, we'd expect the euro to revert back to being a safe-haven," the Dutch bank says. WSJ source.
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