J.P. Morgan Chase abandons bearish U.S. dollar view due to energy shock caused by Iran war.

J.P. Morgan's forex strategist's stance on the US dollar has shifted from bearish to neutral, citing that the energy price shock caused by the Iran war could threaten global economic growth and disrupt the trend of funds moving away from dollar assets. "This is the first time since March last year that we have taken a neutral stance on the US dollar, reflecting a clear tactical shift in our forex strategy," wrote the report by the J.P. Morgan team led by Meera Chandan and Arindam Sandilya. "This adjustment is more for risk management considerations rather than a change in our medium-term view."