The US dollar is not dead – but that should not be the focus for Singapore investors

EVERYONE is focused on the war, the US Federal Reserve, inflation and the greenback. Are we focusing on the right things right now?

Let’s start with what we know. The Iran war has caused the largest oil supply disruption in the history of the global energy markets, taking 12 million barrels per day off the market – more than the two 1970s oil crises combined. Brent crude has surged more than 50 per cent in just one month.

Although countries are releasing strategic petroleum reserves at a record pace, fuel and potentially energy shortages are rippling through Asia. The expected rise in prices, combined with the likely economic slowdown, is increasing the risk of stagflation.