A snippet from JPM on their core strategic (6 month to 2 year) and tactical (1 to 6 month) recommendations, these for currencies:

JPM say that have few strategic trades, however for tactical trades they favour:

  • Short EUR against CAD, USD, JPY (NOK and RUB also)
  • Short AUD/USD
  • Long CNH against the USD

(there are a few others but these majors)