Iranian oil shock shakes JPMorgan's bearish stance on the US dollar

Strategists Meera Chandan, Octavia Popescu, and Patrick Locke predicted in a report released on Monday that rising energy prices will boost the US dollar and weaken major currencies including the euro and yen. JPMorgan pointed out that currencies of oil-importing countries such as the euro will experience the largest declines, while currencies of oil-exporting countries such as the Norwegian krone and commodity currencies will be supported.