FX Forecast Update – USD Strength to Extend Aided by the Fed Re-pricing.Since our last FX Forecast Update on 21 May, a resilient US labour market and signs of persistent underlying inflation have kept US monetary policy repricing at centre stage. At Kevin Warsh's first meeting as Fed Chair, rates were left unchanged, though the accompanying dot plot and communication revealed a shift toward a hiking bias, which in turn led to a repricing of USD rates.