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Dollar to Peak After Fed Starts Hiking in March, JPMorgan Says

  • U.S. currency hasn’t yet fully priced in Fed moves, Hui says
  • Favors dollar versus euro, yen as their central banks lag
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WATCH: Dollar peak is not here yet, says Daniel Hui, global foreign exchange strategist at JPMorgan.Source: Bloomberg

The dollar can extend its rally until after the Federal Reserve starts raising interest rates, according to JPMorgan Chase & Co.

The U.S. bank is piling into global debate on how to trade the world’s reserve currency as the Fed grapples with how to tame the quickest U.S. inflation since the 1980s. The Bloomberg Dollar Spot Index has risen about 5% in the past year, prompting questions as to whether the bullish trade is over.