CHF/SEK, AUD/NZD: 2 pairs to consider during the FOMC meeting (SocGen bank)

"Sell CHF/SEK and buy AUD/NZD. The two trades have the benefit of having a very low correlation with US short rates or risk sentiment (as measured by the VIX index), says the Societe General bank.

The strength of the Swedish economy will eventually force the Riksbank to review its monetary policy and the SEK should climb against the CHF and EUR as well as the GBP. Regarding New Zealand, 2nd quarter GDP figures will be released tonight but the underlying pressure in terms of RBNZ/RBA convergence remains intact." says SocGen.