According to online reports, Bank of America said that if the Federal Reserve continues to sit tight and institutional investors slow down the pace of selling dollars, the dollar may usher in a summer market. "We are bearish on the US dollar in the medium term, but the risks in the summer market are already rising," foreign exchange strategists led by Adarsh Sinha wrote in a research note. The Bloomberg Dollar Spot Index has risen 1.6% so far this month, rebounding from six consecutive months of selling. The bank's technical and quantitative indicators point to a reversal risk of the dollar sell-off, while strategists also believe stubborn inflation and resilient growth will keep the Fed from cutting interest rates for the time being.