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TD Research summarizes its tactical views on EUR/USD and USD/JPY into next week's FOMC meeting.
"Next week's Fed meeting is the appetizer to the mid-term entree in Nov. Still, the break of the 1.1750 level is important for the EUR, suggesting we could see higher lows there moving forward.
A mix of higher global rates and equities is a bad mix for the JPY, though it is decoupling from cyclical drivers that point to 111.40. We fade breaks of 113," TD argues.