"We actually think the U.S. dollar is highly overvalued at this stage and particularly over the past couple of weeks," Zuercher told CNBC's "Squawk Box" on Thursday. "The rally is unjustified."
Zuercher said that after a four-year-long rally in the greenback, it's become overvalued against the G10 currencies, potentially by as much as 15-20 percent against the euro and 30 percent against the yen.
To be sure, Zuercher acknowledged that Trump's policies, if enacted, will likely spur higher inflation, pushing up U.S. interest rates and supporting the greenback.
"We also think inflation in Europe will go up, inflation in Japan will go up and they will start to reduce quantitative easing, which should be positive for these two currencies," Zuercher said.
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