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The dollar rallied by the most in nearly five weeks after a US attack on Iran triggered a rush into havens and pushed up Treasury yields. Oil prices surged on fears of worsening inflation, and the dollar gave back part of its gain by the end of the day.
A geopolitical oil shock lifts crude prices and energy costs for feed production and transport, while a stronger dollar lowers the local-currency value of US grain and meal exports.
bloomberg.comAnya Andrianova, Carter JohnsonMar 2, 2026After 89 past bullish geopolitics events, DXY moved a median +0.5% over 5 sessions (74% higher; middle half -0.0% to +1.0%), and +0.3% over 20.
After 626 past bullish geopolitics events, WTI moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 656 past bullish geopolitics events, BRENT moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Dollar rallied the most in nearly five weeks on 2026-03-02 after the US attack on Iran, with haven flows and higher Treasury yields directly explaining the 0.72% move.
