Why is the Dollar Rising? Trump’s ‘No Timeline’ War Speech Triggers Global Sell-Off

The dollar advanced against major currencies on Thursday, reversing two days of losses, as U.S. President Donald Trump’s address on Iran shattered hopes for a swift end to the Middle East conflictand dented investor sentiment. In an eagerly anticipated address, the president vowed more aggressive strikes on Iran in the next two to three weeks, offering no concrete timeline to end the war that has rattled investors and roiled markets. Investors were quick to exit risky assets and buy the U.S. dollar, pushing the yen, euro, sterling and most of the emerging market currencies lower. The dollar index, which measures…