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US dollar (broad index) and geopolitical crises

The dollar is the world’s main reserve currency and often rises in global crises. After the 9 crises tracked by Riftrate since 2018, the US dollar moved by +0.5% on average over the next 20 trading days, and rose after 5 of them. Week by week, it shows almost no link (-0.01) with Riftrate.

Latest121.3index · 23 October 2026
After a crisis+0.5%average, 20 trading days
After a détente-0.1%average, 20 trading days
After a jump of Riftrate+0.3%+15 points in a week, 47 cases
US dollar (broad index) since 2018, weekly · dotted lines: crises and détentes
111.6118.3125.0201820192020202120222023202420252026Western strikes on Syria, 14 April 2018Inter-Korean summit, 27 April 2018Singapore summit, 12 June 2018Soleimani killed, 3 January 2020Abraham Accords, 15 September 2020Fall of Kabul, 15 August 2021Russia invades Ukraine, 24 February 2022Iran–Saudi deal, 10 March 2023October 7 attack, 7 October 2023Iran strikes Israel, 13 April 2024Twelve-Day War, 13 June 2025Israel–Iran ceasefire, 24 June 2025US intervention in Venezuela, 3 January 2026Iran war, 28 February 2026
DateEventTypeAfter 5 sessionsAfter 20 sessions
28 February 2026Iran warCrisis+1.4%+2.6%
3 January 2026US intervention in VenezuelaCrisis+0.5%-1.0%
24 June 2025Israel–Iran ceasefireDétente-1.5%-1.2%
13 June 2025Twelve-Day WarCrisis+0.7%+0.0%
13 April 2024Iran strikes IsraelCrisis+0.7%-0.2%
7 October 2023October 7 attackCrisis-0.0%-1.4%
10 March 2023Iran–Saudi dealDétente+0.2%-1.8%
24 February 2022Russia invades UkraineCrisis+1.0%+1.2%
15 August 2021Fall of KabulCrisis+1.3%-0.0%
15 September 2020Abraham AccordsDétente+0.6%+0.2%
3 January 2020Soleimani killedCrisis+0.2%+0.7%
12 June 2018Singapore summitDétente+1.2%+0.4%
27 April 2018Inter-Korean summitDétente+0.7%+1.9%
14 April 2018Western strikes on SyriaCrisis+0.9%+2.8%

How to read this. A handful of events is not a law: one large move can drive an average, and markets also move for reasons unrelated to geopolitics. The link with Riftrate is a correlation of weekly changes, not a cause. This page describes the past and is not investment advice.

Data: Board of Governors of the Federal Reserve System, series DTWEXBGS, retrieved from FRED, Federal Reserve Bank of St. Louis.

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