eFXdata reports that MUFG Research discusses its expectations for the Fed January policy meeting .

"We expect the Fed to reiterate a dovish policy signal at this week’s FOMC meeting. The Fed are likely to re-emphasize that it is still too early to talk about slowing the pace of QE at the current juncture. We expect the Fed to more seriously consider a signal that it is planning to slow the pace of QE later this year if effective vaccines have supported a stronger economic recovery. While a QE taper announcement could be delivered later this year, the Fed may not begin to slow the pace of QE purchases until next year," MUFG adds.