The US dollar was mixed last week. One would have thought, based on the geopolitical tensions, the stronger than expected US economic data resulted in upward revisions to Q3 GDP forecasts and a more than 30 bp surge in US 10-year yields, the greenback would have performed better. The Dollar Index fell by almomst 0.5% last week, its biggest weekly loss in three months. It is down so far this month. On the other hand, gold rallied 2.5% to extend its gain to about 8% since the Hamas attack. December WTI’s 2% advance brings its surge to about 8.2% in the same period, or about $6.75 a barrel. The heightened geopolitical … (full story)

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