Allianz Investment reevaluates the value of the US dollar, considering short-term dollar purchases.

ChainCatcher reports that Allianz Investment is considering purchasing US dollars. The company has been betting on the depreciation of the US currency for several months, but the Middle East conflict has restored its status as a safe-haven asset. Greg Hirt, Chief Investment Officer of the company’s multi-asset strategy, said there are “strong reasons to buy US dollars in the short term.” On Monday, the dollar rose to a three-week high against a basket of currencies. Hirt noted that although he still believes in the long-term de-dollarization trend, a more neutral stance may be needed in the short term.

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