European markets are heading for a higher open on Thursday following a rebound on Wall Street that lifted global sentiment.
has room to inch up even higher thanks to rate differentials on the back of a hawkish Federal Reserve, according to Wells Fargo Securities FX strategist Brendan McKenna.
"We think a lot of these international banks will not be able to raise rates as aggressively as the markets are priced in for," he told CNBC's"Squawk Box Asia." "So it's kind of a combination of a more hawkish Fed and a less hawkish tightening cycle from these international central banks that support the dollar over the remainder of this year," he said.Goldman Sachs revised its forecasts for upcoming Federal Reserve rate decisions year.
Analysts led by chief economist Jan Hatzius said in a note that the firm expects a 75-basis-point hike in September, up from a previous forecast of 50 basis points, as well as a 50-basis-point hike in November, also revised from a previous projection of 25 basis points.The note said Fed officials"have seemed to imply that progress toward taming inflation has not been as uniform or as rapid as they would like," the note said.
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