The U.S. is facing a period of dollar strengthening, fueling likely tensions between the new administration of Donald Trump and the Federal Reserve, the chief executive of asset manager BlackRock told a panel in Davos.

Larry Fink said at the World Econopmic Forum that he expected that Fed interest rate hikes this year could push up the value of the U.S. currency "significantly."

"We all should be aware right now that we are going to be living a world of a strong dollar," he said.