Dollar remains strong
The Federal Open Market Committee is expected to continue raising interest rates through their May meeting, with a "meaningful" risk that they lift rates further in June, as well. The economists said that they were taking on board incoming information, including the January employment report and the Bureau of Labor Statistics revisions to the CPI data. "Even with our expectations for data weakening in Q2, the January employment report and revised inflation data point to upside risks to our rate outlook".
ECB will move its interest rate higher, but it will not be as high as the US's.