The U.S. Dollar can maintain its recent trend of appreciation helped by favourable seasonal trends and will be untroubled by a recent rating agency downgrade of U.S. debt, shows new research from JP Morgan. Analysts at the Wall Street lender and investment bank say the Dollar's outlook is also underpinned by a favourable macroeconomic setup that includes higher U.S. interest rates and ongoing U.S. economic outperformance. "In our view, the near-term macro landscape matters more and should lend support to the dollar. Our view in recent weeks has been to be defensive with a bullish USD bias given resilience in US data ... (full story)