Handlebars variable rendering

Question

I have the following data in the Handlebars template:

var1 : 'John'
var2 : 'Hello {{var1}}'

Template looks like:

Hello {{var1}}
{{var2}}

Result is:

Hello John
Hello {{var1}}

The question is: Exists some way to setup Handlebars to render {{var1}} inside data and get the following result?

Hello John
Hello John

Here is JSFiddle.