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The USD Can Act as a Safe Haven Currency

HYCM

By Giles Coghlan, Chief Currency Analyst at HYCM

Remember that the USD can act as a safe haven currency in conjunction with the JPY and the CHF. The USD is the world’s most traded currency making up around 70% of all currency transactions and the Federal Reserve is the central bank that the rest of the world’s central bank follow. There is meaning therefore in the title “King dollar’. Current market conditions have been helpful recently for demonstrating the USD’s safe haven status.

The flip flopping of the US-China trade dispute, which is subject to regular and rapid change, has been moving the USD around on safe haven moves:

- Positive developments in the US/China trade tariffs weighs on the USD
- Negative developments in the US/China trade tariffs supports the USD

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