What would be the catalyst for an even more dovish turn for the Fed now with a March rate cut close to priced? We seem to be at peak optimism in terms of Fed cuts next year and a correction seems more likely than not.

The window for further USD weakness against the EUR and GBP could prove short-lived. 

The JPY remains best placed to outperform amongst the majors currencies as the Fed, ECB and BoE all begin to lower rates next year.