The dollar is losing its war premium and emerging markets are loving it: Chart of the day
The US Dollar Index (DX-Y.NYB) is plunging as it loses the war premium that had built up during the Iran conflict. It is on track for its third-biggest drop of the year, wiping out all of its gains since March 3, while the Bloomberg Dollar Spot Index has erased its entire 2026 gain. That reversal…