Standard Chartered: The market is currently just standing still.

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Coin World News reports that Steve Englander, Head of Global G10 Foreign Exchange Research and North American Macro Strategy at Standard Chartered Bank’s New York branch, stated that the market is not 100% confident that the ceasefire will hold, but also not 100% confident that it will break down. The market finds it difficult to judge how long the ceasefire can last and how the subsequent situation will develop. Therefore, the market is currently just treading water, with the real focus on whether military actions will restart. Amid this uncertainty, the US dollar has attracted safe-haven demand. As concerns over the conflict deepened, the dollar strengthened in March, but as market optimism about potential solutions grew, the dollar gave back some of its gains this month. Jeremy Stretch, Head of G10 Foreign Exchange Strategy at CIBC Capital Markets, said that the least resistance option still appears to be modestly increasing dollar positions, gradually unwinding the ‘peace premium’ that had previously flowed back into the market.

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