Ready for the FOMC meeting? You've got company.
Just about everyone seems to be expecting the same thing from the last Fed meeting of the year, according to Kathy Lien, managing director at BK Asset Management. She told CNBC's Melissa Lee that if the Fed opts to continue its stimulative bond-buying, but pay for all of it by essentially printing money, "it does end up being overall a little more stimulative than we are right now. That is the takeaway - but everyone expects this." As a result, she says, "I don't think it's the huge market mover that you would initially anticipate."
To trade on the meeting, Lien is looking at buying the dollar against the yen. She expects the FOMC meeting to push the dollar a bit lower, creating an opportunity to enter the trade and set up for yen weakness around the upcoming Japanese elections. "Dollar yen will probably end up trickling higher" at that point, she says.
Lien wants to buy the dollar against the yen on a slight pullback to 81.75, setting a stop at 80.75 and a target of 83.25.