FX Viewpoint

17 March 2026

Article

Weekly foreign exchange insights

“Safe haven” demand has lifted the USD, but a de-escalation in geopolitical tensions will likely weaken it
Higher oil prices tend to weigh on currencies of large net energy importers, while the CAD and AUD look more resilient
A prolonged conflict could further strengthen the USD and hurt the EUR and GBP, though this is not our base case

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