Get ready for more opaque comments on interest rates: a slew of central banks will meet this week. Here's how to trade accordingly.  

There will be a series of central bank meetings starting July 4, and Andrew Busch, global currency and public policy strategist for BMO Capital, is especially interested in three of them: Sweden, Australia, and Britain.

"I'm looking to try to take advantage of the market's expectations for additional hikes," he told CNBC's Scott Wapner - but not the way you might expect.

Busch expects the Bank of England to keep interest rates unchanged on July 7, and the Royal Bank of Australia to do the same on July 5. However, he says lackluster growth in Britain is "getting people concerned," and he is much more bullish on the economic outlook in Australia. So Busch recommends selling the British pound against the Aussie dollar with an entry point around 1.5025, a stop of 1.5225 and a target of 1.4025.

"This is a risk-on play," Busch says, predicting that the Australian dollar will pick up momentum as the economy there remains strong.

Rebecca Patterson, chief markets strategist for J.P. Morgan Asset Management, is equally bullish on Australia, noting that better than expected economic data from Japan suggests solid demand for Australian commodities, and China's reasonable growth should help as well. Also, she says, investors may still be pricing in some expectation of an interest rate cut in Australia before the end of the year - and "that's not going to happen," she says.

You can watch the whole discussion right here.

CURRENCY FUTURES

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