Too early to write off 'king' dollar's dominance, says Wall Street

It’s too soon to write off the dollar’s dominance as the US rate-hike cycle may not be near its peak. 

That’s the firm conviction of money managers at JPMorgan Asset Management and Fivestar Asset Management even after a gauge of the greenback touched a one-month low on Thursday. Signs that aggressive Federal Reserve tightening is starting to take a toll are fueling bets for a slower pace of rate increases.

But dollar bulls remain undaunted: a hawkish Fed, fears of a global recession and heightened geopolitical tensions in Europe should only bolster demand for the US currency, investors say. 

“At the