It is hard to believe the dollar is not going to keep appreciating
Most currency strategists believe that the dollar is now going to depreciate somewhat, especially against the euro. But i t seems more reasonable to think that the dollar will continue to appreciate, given: The strong global demand for risk-free bonds, which benefits US Treasuries in particular; The likelihood of US growth surprising on the upside on the back of the rise in the participation rate and demand-stimulus policies; The fact that the euro zone, Japan and emerging countries are more exposed to weak global trade and the Chinese economy than the United States; The capital flows heading from the euro zone and emerging countries to the United States, attracted by the higher US interest rates.