For much of 2025, the U.S. dollar looked vulnerable: expensive, less supported by the exceptionalism narrative and heading toward a weaker regime. Then the war in the Middle East changed the picture. Energy prices rose, risk sentiment shifted and the dollar reclaimed its safe-haven role.
In February 2023, the Securities and Exchange Commission adopted rule amendments to shorten the standard settlement cycle to T+1 for transactions in U.S. securities including equities, corporate bonds, unit investment trusts, and exchange-traded funds.
