Dollar opens higher, even after announcement from the US Treasury and with an eye on oil

a Accumulated for the week: -0.83%; Accumulated for the month: +2.10%; Accumulated for the year: --5.70%. ?Ibovespa

Accumulated for the week: +0.54%; Accumulated for the month: -5.71%; Accumulated for the year: +4.16%. Understand the American Treasury's announcement The United States Treasury announced, the day before, that it would double the volume of repurchases of American public bonds (Treasuries) with long-term maturities, between 10 and 30 years, to at least US$4 billion per operation. The measure, which will be in effect between September 9 and November 4, comes as an attempt by the US Treasury to alleviate stress in the fixed income market. A day before the announcement, for example, a massive sell-off in US bonds pushed the 30-year Treasury yield to its highest level since 2007, amid fears of an escalation in the war between the US and Iran and growing concerns about the worsening US fiscal outlook. On the conflict side, in addition to the direct impact on the international oil market due to the closure of the Strait of Hormuz, a route through which around 20% of all global trade in the commodity passed before the war, markets are also concerned about the indirect effects of the conflict. This is because in addition to the consequent rise in fuel and energy prices, the impacts also tend to extend to other products, putting pressure on global inflation. Oil is once again in the spotlight The international oil market is once again in the spotlight. This Wednesday, the British newspaper Financial Times stated that Iran is considering attacking US military targets in Europe if the war between them escalates further. One of the potential targets would be the Bulgarian Bezmer air base, which since last month has been used by US Army aircraft for refueling; Another facility that could be targeted is a British air base in Cyprus that was previously attacked by an Iranian drone in March. Furthermore, the Iranian regime has also considered the possibility of attacking submarine fiber optic cables in the Strait of Hormuz if this new escalation occurs, according to the FT. Such attacks, if carried out, would serve to increase the risks and consequences of the conflict for the US, Iranian sources told the newspaper. In recent weeks, American President Donald Trump has threatened to declare the Strait of Hormuz as US territory — something unfeasible and prohibited under international law — and to bomb ally Oman if the country reaches an agreement with Iran on the control of commercial shipping in the sea. Tehran, in turn, which said it was close to concluding the agreement with Oman, raised its tone by imposing an ultimatum on the US and stating that it would take a more offensive stance in the war if negotiations with the White House to end the conflict fail. Tensions are once again raising concerns about the reopening of the Strait of Hormuz, a route through which around 20% of all global oil trade passed before the war, and its effects on inflation and energy supply around the world. READ MORE What is the Strait of Hormuz, essential for world oil How long can Iran sustain war with the USA and Israel? Global stock markets In Asia, Chinese shares closed lower, with a massive sell-off in chip and robotics shares amid concerns about the economy and after lower-than-expected corporate results. The CSI 300, which brings together the largest companies listed in Shanghai and Shenzen, fell 2.9%, while the Shanghai index, the SSEC, fell 2.4%. Among the other indices in the region, Hong Kong's Hang Seng rose 0.09% and Japan's Nikkei lost 3.16%. South Korea's Kospi fell 5.80%. * With information from the Reuters news agency. Dollar has been soaring in recent days Cris Faga/Dragonfly/Estadão Conteúdo