US dollar to stay relatively range-bound this year – JP Morgan

The JPMorgan Asset Management Team offers its take on the US Federal Reserve’s (Fed) monetary policy and the US dollar, in its latest client note.

Key Quotes:

“The Federal Reserve's "more dovish pivot should be recognized that it was taken because they had a less favorable view of both markets and economic growth.

The risk of a US recession in the next 12 to 18 months as "pretty low". 

Fed actions are likely to extend the economic cycle a bit further.

The US dollar to stay relatively range-bound this year.

The longer-term valuation perspective shows the US dollar a bit expensive.”