Look for peak around the end of the first quarter
From CIBC World Markets:
The beginning of the Fed’s tightening cycle combined with increasing market
volatility might have looked like a recipe for further US dollar appreciation.
But the Fed’s move was already baked into markets and volatility came alongside
a paring back of short positions in other currencies. As a result, the
ingredients on hand weren’t sufficient to spur another run up in the dollar.
