Look for continued EUR and JPY gains against the US dollar – Credit Suisse

From Credit Suisse:
This past week the BoJ extended the life of its fading QE programme ‘on the cheap’ while the Fed remained cautious, assessing the need for further tightening.  The USD-off lean could persist for now as we approach the first televised presidential debate in the US next week. Indeed, we believe that the markets are rather complacent about the outcome of the elections and expect growing uncertainty ahead of the 8 November vote to add to the USD-headwinds. The US data calendar is fairly light but we have a flurry of Fed speeches. It would take positive data surprises and consistently hawkish comments next week to see the near-term outlook for USD change, however.