Meera Chandan on USD Bullishness

JPMorgan's Meera Chandan has pivoted to a tactically bullish USD stance, driven by 'US exceptionalism' and a realization that bearish sentiment has become excessively crowded.

Key Takeaways

• 1.JPMorgan has turned tactically bullish on the US Dollar, shifting from the previous consensus bearish stance.
• 2.The USD is supported by 'US exceptionalism,' characterized by positive inflation surprises and strong economic data relative to the Eurozone.
• 3.Bearish USD sentiment is currently crowded and approaching extreme levels, which historically signals a reversal.

Table of Contents

• Changing
• More dollar positive
• USD has been held down
• CB expectations
• Screens cheap
• Follow the MoMo
• US equity outperformance helps
• Sentiment
• Underperformed

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