FXStreet reports that MUFG Bank said that the release of latest FOMC minutes is the main event risk for the week ahead.

“The release of the latest FOMC minutes (Wed) from the July policy meeting could provide further insight into the Fed’s plans. Over the past year, the trend has been for the USD to strengthen initially following the release of FOMC minutes but only modestly. As the Fed moves closer to a policy pivot, there is a risk of a bigger market reaction.”

“We continue to see risks as tilted to the upside for the USD in the week ahead. Any hawkish policy signal in the FOMC minutes could reinforce the USD’s upward momentum especially if key resistance levels are taken out. USD/JPY is poised to rise back towards and test July’s high at 111.66.”