Flawed Dollar Is Best Safe Haven From Iran War

While no assets offers complete insulation from a sustained Middle East conflict, when assessed against the core attributes of a "haven", the dollar remains the most robust option. And, as Bloomberg strategist Skylar Montgomery Koning writes, for all the talk of the dollar’s demise, no alternative stacks up quite as well across four key metrics: negative correlation to risk assets, liquidity, store of value and credibility.

Koning's analysis below of potential havens is based on those four metrics. The dollar comes out on top consistently, and is also most relevant for the current crisis, but it’s not always the answer because haven properties are not static - they vary across inflation, growth and liquidity regimes.