The following are brief expectations forthe FOMC minutes from the Julymeeting as compiled from the related research reports of 1o major banks. Overall, they're looking for clues on: 1-the official start of the balance sheet reduction plan,2-the discussion surrounding the weak inflation pressure. On the USD front, there doesn't seem to be clear a consensus trade going into the FOMC minutes BofA Merrill Research:The minutes from the July 26thFOMC meeting will provide information about how Fed officials see risks to the outlook, with a particular focus on inflation...Overall, we willtryto get a sense ofthe Fed's comfort ... (full story)