Why the 2026 Oil Shock Matters More for the Dollar Than Oil
When crude surged above $120 a barrel in March after renewed disruption around the Strait of Hormuz, markets responded with familiar reflexes: equities sold off, emerging-market currencies weakened, Treasury yields whipsawed and the U.S. dollar rallied sharply. At first glance, that reaction looked like another textbook example of crisis-era dollar strength. But the more revealing … Read more