Societe Generale Research discusses its expectations for tomorrow's FOMC policy meeting.
"Will the FOMC confirm talks about tapering are starting? Will they adjust the IOER? Will the median dot move to price in a rate hike in 2023? How high will growth forecasts go? There’s a chance the FOMC may not provide any meaningful clarity, but we can’t see them being too hawkish yet," SocGen notes.
"The yen has been dismal this year and hasn’t even got any benefit from the most recent fall in US yields. But as USD/JPY poke sits nose above 110 again, we’re back in the selling zone," SocGen adds.