26 August 2016 at 8:25 GMT
Peter Garnry, head of equity strategy, says he is cautious about investing in US companies which operate largely outside the country.
He says companies such as Schlumberger, Nvidi and Intel may underperform again as they did when the US dollar strengthened previously.
Garnry also discusses the weakening of gold if the US dollar gains ground and also how a strong US dollar may affect emerging market equities.
You can read Steen Jakobsen’s article, to which Garnry refers, here