The firm previously saw the Fed hiking rates some time in Q3 2023
Adding that the change of forecast creates "upside risks" to its bearish dollar forecast, especially against the euro.
That scales alongside market pricing in general and also as inflation developments are proving to be more sticky than policymakers would like to admit since the summer.
We'll see what sort of message Powell & co. will communicate later this week but it is likely to just be tapering for now and making a bit of a distinction that such a step would not necessarily lead to rate hikes in the near future.
