The US dollar is the most overvalued G-10 currency. Due to the inflationary policy outlook of the newly elected President Donald Trump, the dollar may remain strong in the short term, according to a report by US Bank foreign exchange strategist Athanasios Vamvakidis. He noted that after strong US data and Trump's election victory, market expectations for a Federal Reserve rate cut have weakened, and the recent strength of the dollar has reached "historical extremes". The dollar is expected to remain strong in the first half of 2025. However, due to Trump's policies (including trade tariffs) "impacting the US economy while other countries respond," the dollar may weaken in the second half of the year.