Lucas: How to trade USD ahead of FOMC

Will the Fed remove the word ’patience’ from its official statement this week? If it does, analysts will see this as a move to raise rates much sooner says Steve Lucas from 3C Analysis. He expects the word to be ditched but with a caveat put in place allowing the Fed more flexibility. Lucas thinks the dollar will strengthen, although he also believes it’s overstretched. USDJPY has gone through a 25 year yearly bear trend and he has cut back his long position. Steve is also short of AUDUSD because Aus