JPMorgan Chase: Rising commodities add to the arbitrage appeal of the US dollar

J.P. Morgan's Antonin Delair, Meera Chandan and Kunj Padh said commodity prices provided a boost to the high-yielding dollar. They wrote that the bank's growth strategy has a weight of more than 20% in the US dollar. "U.S. yields remain the main driver of the FX market, keeping the U.S. dollar and spreads strong and preventing reversals," they wrote, adding that the U.S. dollar is vulnerable to low-yielding currencies "amid weak data."

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