Don't expect any Fed rate hikes this year, says BNP Paribas

The French bank expects the US dollar to give back some of its recent gains

Federal Reserve
Federal Reserve: with no rate hikes in the pipeline, the dollar's strength will soften

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BNP Paribas revised its forecast for US interest rates in February, from initially expecting the Federal Reserve to raise rates three times in 2016 to one where the central bank will struggle to hike at all.

The change of tack fared well for the French bank, which topped last week's one-month forecast, for correctly predicting the US dollar's continued weakness and making an accurate call of 1.14 for EUR/USD.

"One of the big catalysts for that change of view was how

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