The dollar has soared over the past year, climbing by 17% on a trade-weighted basis against a basket of peers. Higher rates are giving the dollar a distinct advantage over other currencies.

Markets are taking little comfort from positive economic forecasts and look set to remain very volatile

Inflation data for May will unnerve the ECB

The move to remote working and more flexible working arrangements in general have boosted female participation rates

The Eurozone economy is close to stagflation, with inflation of over 6% forecast, but a number of factors support growth

Slowing activity without pushing the economy into recession is hard to do at times of high inflation

The Bank of England believes the UK's unemployment rate will climb from 3.6% to 5.5% over the next three years

The euro is likely to test its lowest point of the past 20 years too, of $1.04, hit at the end of 2015

Markets now expect at least three rate hikes of 25 basis points before the year is out, possibly starting as early as July

Both the real economy and prices are showing rapid growth