US dollar surge since start of war on Iran unlikely to last, say FX strategists.

The U.S. dollar’s bounceback since the start of the U.S.-Israel war ⁠with ⁠Iran may be short-lived due to lingering doubts about the ⁠safe-haven appeal of U.S. assets, according to FX strategists polled by Reuters who broadly still expect two Federal Reserve rate cuts ​later this year. Traders have been positioned short the dollar - meaning they expect it to fall - since December, with the currency down against a basket of currencies around 12% since the start of 2025.  The greenback is up...