The greenback has tumbled 4.3 percent versus the euro since touching a 12-year high last month amid speculation the Federal Reserve will delay raising interest rates, in part because the dollar’s strength is hurting U.S. economic growth. “The market is now pricing in a very subdued pace of the tightening cycle — we disagree,” Petr Krpata, a foreign-exchange strategist at ING in London, said on April 1 by phone.