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The BoJ, the BoE and the Fed all meet this week and for once the Fed could be the least interesting story of the week as the market hones in on the BoJ and the BoE, according to analysts at TD Securities.

Key Quotes

“We don’t think the BoJ will deliver any meaningful policy shifts, though the policy cat is out of the bag and the next move for the BoJ is less rather than more stimulus. We look to fade rallies in USDJPY towards the recent highs.”

“The BoE is expected to deliver a rate hike, though GBP will have to contend with Brexit headlines and broader USD trends. We think the USD has reached peak optimism, leaving GBP some room to benefit from the hike, especially as valuations look clean. Next key level to watch is 1.32.”