ING Bank: Geopolitical and seasonal factors may lead to higher dollar

February 24th, ING foreign exchange analyst Chris Turner said in a report that the dollar strengthened on Friday and may rise further due to geopolitical tensions.

“Concerns about escalating U.S. sanctions could prompt investors to reassess some of their holdings,” he said. Turner noted that the dollar is currently in a period of seasonal strength (the greenback typically strengthens in February and March). The US dollar index may continue to rise to 105.00 due to the geopolitical situation, and may rise to 105.60/106.00.