Tuesday 24 June

Despite bombs still dropping, the market has started to look through Middle East concerns, and also tariff concerns. Reasons to be bullish the risk environment are growing, especially as 'once hawkish' FED members are starting to turn dovish. (I wonder if the president's preference to appoint a 'dovish chair' is on a few FED board members minds?).

I'm putting the recent the 'unorthodox' USD JPY 'price action' (going up when Middle East fears were heightened, going down as the fears ebbed), purely down to interest rate speculation. And I currently think 'risk on' trades are viable, I'm just torn as to which is the best option to 'short', my preference would be JPY or CHF.

In this moment I have an eye for AUD CHF long, but I'll probably wait until tomorrow. In the meantime if the dollar continues to tank, I'll switch to USD shorts.

Please feel free to email any thoughts or questions: johnelfedforexblog@gmail.com