Barclays Capital FX Strategy Research expects the USD to trade sideways this week going into the FOMC minutes on Wednesday and the jobs report on Friday.

On the FOMC minutes, Barclays notes that the focus will be on gauging the extent of the conversation about balance sheet reduction.

On the jobs report, Barclays expect nonfarm payrolls to increase 200k; average hourly earnings to rise 0.3% m/m (2.6% y/y); and the unemployment rate to fall 0.1bp, to 4.6%.

EUR/USD is trading circa 1.0669 and USD/JPY is trading circa 110.90 as of writing.

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