Kames' Jamieson backs US dollar to rise 20% over long term

Scott Jamieson, head of multi-asset investing at Kames Capital, is running his highest ever allocation to the US dollar in the view it could appreciate as much as 20%-25%.

His strong long-term view on the US dollar is reflected both in the Inflation Linked fund and other multi-asset portfolios. The manager has taken the position via forward contracts and options. "Currencies tend to exhibit long cycle behaviour. If you look at the Trade Weighted US dollar index for a complete picture there has been a multi-year sell off, but it is starting to reverse. "The fundamentals underpinning this reversal look reasonably robust and a rise of 20%-25% would not be unreasonable over the longer term." Jamieson (pictured) believes the current situation in the US is...