On tapering, JPY and AUD are vulnerable; on No-tapering, NZD and GBP could rally | Forex Crunch: "In case of a “Dectaper”
JPY: The yen has suffered another downfall due to the talk of more stimulus from the Bank of Japan. However, USD/JPY didn’t make a convincing move upwards. A taper decision would not only allow a bigger breakout, but also push US yields higher. There is a nice positive correlation between US yields and USD/JPY.
AUD: The Australian dollar arrives to this decision in a vulnerable moment, after the governor of the central bank laid out a numerical target for AUD/USD: 0.85. With an economy already in a not so positive transition that is considered a “risk currency”, a reduction of bond buys in the US will hit Australian shores quite quickly.
CHF: The Swiss franc is still somewhat of a “safe haven” currency that could see demand in times of risk aversion. With more risk, the franc could actually gain or at least suffer only minor drops against the dollar in case of a taper decision."
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