Don't bet against the dollar just yet.
That's the message from a new CNBC survey of top Wall Street strategists.
Strategists on average see strengthening to 1.064 per euro by June and 1.024 by the end of the year. By the end of 2016, they forecast, the euro will rise back to 1.0320. Similarly, strategists expect the dollar to strengthen against the Japanese yen to 121.43 by June, 124.64 by the end of 2015 and even further to 127.08 by the end of next year.
More than 70 percent of respondents have a negative near-term outlook on emerging markets currencies; 21 percent are somewhat positive and none is extremely positive.
But the dollar has been going the other way for weeks, weakening to a three-month low against other major currencies. Even hated emerging markets currencies like Russia's ruble have gained 26 percent in two months. After plunging to 1.04 in March, the euro has shot back to just under 1.14.