The forex battle for the 49th parallel is shaping up to be hot and heavy through the final full trading week of the year. As we noted yesterday, tomorrow’s FOMC meeting is, outside of Brexit developments, the biggest event to watch this week, with traders uncertain whether the US central bank will extend the maturity of its asset purchases, expand purchases outright, or stand pat. Any time the market is uncertain about the outcome of an event, it means that a certain subset of traders will be wrong, so we’re expecting volatility in the US dollar regardless of what Powell and Company decide to do tomorrow. In addition ... (full story)