The U.S. dollar has been on a tear following the Federal Reserve’s apparent commitment to higher-for-longer interest rates. While economies and stock markets around the globe are likely to come under pressure in such a scenario, a raft of European stocks could actually gain from the rising U.S. dollar, according to the Bank of America. The U.S. dollar index hit its highest level since March earlier this month, while its 50-day moving average is showing signs of surpassing its 200-day counterpart. Called a “golden cross,” such a milestone is expected in the last quarter of the year, according to BofA’s Paulina Strzelinska in a Sept. 27 note, and typically signals further gains in the coming months. European stocks to benefit Bank of America’s screen captures European companies that would “tend to outperform” when the U.S. dollar index rises. These Europe Stoxx 600 stocks reported 2022 revenue exposure to the U.S. or North American region in excess of 20%, Strzelinska said. They also had a “significant and positive slope from regression [against] the U.S. dollar index.” “Over the past five years, Low Risk stocks, Energy and Norway have tended to outperform the most when the DXY index has been rising,” she added. U.K. names on Bank of America’s most recent screen include British American Tobacco , drinks giant Diageo and energy player BP . European healthcare companies featured prominently on BofA’s list and included Novozymes from Denmark, Qiagen from Germany, Bayer from Germany and Roche from Switzerland. Elsewhere Dutch media house Wolters Kluwer , Italian energy player Tenaris and Finnish telecommunication services provider Nokia also appeared on the screen. — CNBC’s Michael Bloom contributed to this report.