The USD is hot and the summer can bring new heat waves: The Dollar may be overvalued, but it is likely to remain strong in the near term. It may even intensify, depending on global geopolitical and market developments on scarce safe-have alternatives. Our thoughts on the greenback (factors can tame it or scenarios to lift it higher), EUR demons, LatAm carry crash and revised forecasts are all discussed in 3Q24 FX Insights.