According to Mars Finance, citing Jinshi, Derek Halpenny, an analyst at Mitsubishi UFJ Financial Group, stated in a report that the US dollar could strengthen further if the conflict in Iran leads to increased inflows into safe-haven assets. He predicts that the dollar will strengthen further if the stock market experiences a larger decline. In a more severe scenario, if Brent crude oil prices rise from $110 per barrel to the $120-$160 range, the dollar index could rise to around 105.
Mitsubishi UFJ: If safe-haven demand rises, the US dollar may strengthen further.
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