Market Leadership

Hot Seat with Jayati Bharadwaj | Is the U.S. Dollar a Safe Haven, or Not?

Apr. 09, 2026 - 2 minutes 38 seconds

Is the dollar a safe haven, and how do you see it trading over the next coming weeks?

In the Hot Seat, Jayati Bharadwaj looks at whether the U.S. dollar still deserves its safe-haven status. She breaks down why the current conflict has lifted the dollar, from America’s distance from the region to its position as a net energy exporter. Looking back at previous oil shocks, she explains why this rally differs. The dollar may stay strong for now, but if the conflict eases, selling could return quickly—supporting her bearish medium-term view.

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Jayati Bharadwaj
Jayati Bharadwaj
Global FX Strategist, TD Securities

Biography

Jayati Bharadwaj is a Global FX Strategist based in New York. Prior to joining TD Securities, Jayati was an FX and quant strategist at Barclays for 4 years covering G10 and EM. Her work includes thematic research and quantitative strategy to analyze financial markets, develop and back test models and tools, and provide market color. She holds a Master's in Finance from MIT Sloan and a Bachelor's in Economics from St. Stephen's College, Delhi.