• BofA’s measure of China reflation near 2022 lows as fears grow
• Dollar to outperform against euro, pound, franc on China risks

The chances of the dollar adding to its nearly 3.5% advance since mid-July depend more on the fate of economic growth in China rather than changes to interest rates from the Federal Reserve, according to macro strategists at Bank of America.

In a note published Tuesday, Bank of America’s Adarsh Sinha and Janice Xue wrote that they are bullish on the dollar, “but a lot hinges on whether China rolls out meaningful, coordinated stimulus in coming weeks.”