HomeNewsNewsDollar eyes 2.8% quarterly gain as safe-haven flows support

Dollar eyes 2.8% quarterly gain as safe-haven flows support

NEW YORK, March 31 (Reuters) – The dollar rose on Thursday as a lack of progress in peace talks between Russia and Ukraine boosted demand for the safe-haven currency and as the United States announced the largest release ever from its emergency oil reserve to try to blunt the energy shock from the war.

The dollar index , which weighs the greenback against a basket of six global peers, was up 0.492% at 98.31 at 2:30 p.m. EDT.

The dollar has attracted safe-haven flows since Russia’s Feb. 24 invasion of Ukraine, and is on track for a rise of around 1.6% for the month of March, and around 2.8% for the first quarter.

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Month- and quarter-end flows have caused some additional volatility for markets, but trade is likely to muted ahead of Friday’s U.S. non-farm payrolls figures, said Shaun Osborne, chief FX strategist at Scotiabank.

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