US Dollar: Spike likely transitory, softness should resume
|Summary
While the FOMC made no substantive changes to monetary policy yesterday, the updated "dot plot" has turned market discussion toward whether the Fed may look to tighten monetary policy earlier than previously expected. As a result, the U.S. dollar has spiked against G10 and emerging market currencies; however, in our view, the recent strength in the dollar will likely be temporary and could make for attractive entry points to gain exposure to foreign currencies.
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