USD – The dollar edged higher against a basket of currencies on Monday as recent employment data prompted some Wall Street banks to raise their estimates for how quickly the Federal Reserve will raise interest rates this year.
Among those banks which raised their FOMC projections are Goldman Sachs, J.P. Morgan, Deutsch Bank and Jefferies, with the latter stating that “with the unemployment rate below 4% the Fed could probably declare their job on employment “completed” which does indeed set us for an even faster period of taper potentially.”