Brad Bechtel, global head of FX at Jefferies Group, said the dollar had got off to a strong start on the back of Trump's election as US president, but its future course will largely depend on the pace of policy implementation. "I can see the potential for the dollar to continue to rise over time, but I don't see it repricing immediately," Bechtel said. In Trump's first administration, he fumbled his way in Washington and could move forward more quickly with tariff and regulatory reforms as he gained experience. But that is no guarantee and much still depends on whether Republicans can win the House. "From now on, we need to look at how quickly this is going to be a red wave: that's going to dictate how quickly the market moves towards a broader range," Bechtel said.