eFXdata reports that Nomura Research discusses the USD outlook.

"At the start of April, we saw scope for US yields to stabilise and USD to soften , a view that has gained further support from the market reactions to recent, stronger-than-expected US macro data.We continue to believe that markets have substantially priced in Fed rate hikes (just over three 25bp hikes by end-2023), higher US inflation expectations (5Y breakeven ~2.16%) and significant upward revisions to US growth forecasts (consensus Q2 US GDP at 8.1% q/q)," Nomura adds.