USD: BNP recommends buying the dollar ahead of FOMC meeting

"We expect the Fed to raise its key rates by 0.25% on 16 December. And we think that current forex levels are attractive to buy the dollar once again.

Our rate strategists expect an increase of approximately 0.50% of the 2-year rates by the beginning of 2016, which should support the dollar.

There is room for traders to build up bullish dollar positions ahead of the FOMC meeting especially as the recent dollar depreciation reduces the risk of seeing the Fed worry about the dollar's price level." says BNP.