中美关税摩擦冲击汇市：美元重成避风港

Core Viewpoint - The strengthening of the US dollar against major currencies is influenced by the new developments in US-China tariff tensions, leading investors to shift towards safe-haven assets [1][4]. Group 1: Currency Movements - The Bloomberg Dollar Spot Index increased by 0.3%, reaching its highest level since August 1, alongside a rise in government bonds, while the stock market declined [1]. - The Australian dollar led the declines among currencies, falling by 1% to a near two-month low, while the British pound also hit a two-month low following the release of UK employment data [1]. Group 2: Analyst Insights - ING analysts Chris Turner and Francesco Pesole noted that the "revitalized status" of the dollar as a safe-haven asset and "additional bullish momentum" could support the currency in the short term [4]. - The options market shows a resurgence in demand for bullish positions on the dollar, particularly against the British pound, Australian dollar, and Canadian dollar [4]. Group 3: Market Reactions - Traders are taking opposite positions on the Japanese yen, which led gains among G-10 currencies on Tuesday [4]. - Turner and Pesole indicated that if the market finds reasons to ease tensions regarding the Japanese political situation, the undervalued yen could be in a favorable position to benefit from further escalation [4]. - Market participants are also closely watching Federal Reserve Chairman Jerome Powell's important speech for clues on whether recent market pricing of the central bank's outlook has turned overly dovish [4].