The tape faces four big catalysts/events between now and probably the end of the year according to JPMorgan:
1) The Fed. Do they move in June or Jul? The former has the Brexit problem on June 23 (although the odds of an “out” vote have declined enormously) and the latter lacks a press conf. Will two hikes this year (one in the summer and another ostensibly in Dec after the elections) spark another steep rally in the USD or will currency markets stay calm?;