ING Bank: Russian drone entering Poland incident may boost the dollar.
Dutch cooperative bank analyst Jane Foley said that the entry of Russian drones into Polish airspace may provide some support for the US dollar, as the safe haven status of the dollar remains unchanged. In response to Poland's request, the United Nations Security Council convened an emergency meeting on Thursday. Foley said, "This reopens the debate about the safe haven status of the US dollar." She said that given the relatively large spread on US credit default swaps, it is necessary to be concerned about this situation. However, Foley said that the depth and liquidity of the US asset markets and the influence of the dollar as a trading currency mean that it is difficult to replace their status as safe haven currencies, even if the position of the dollar or US treasuries slightly declines.
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