Tuesday 3 September

Yesterday's JPY weakness has completely reversed, with a much larger pullback than I for one expected. Concerns about china, disappointing AUD data and a drop in the price of iron ore have contributed to what I would say is 'very mild' negative sentiment.

In the grand scheme of things, I'm still looking for 'risk on' opportunities. But as focus turns once again to US data, it may now be prudent to wait for ISM data before forming a fresh conviction.

Whilst Swiss CPI data could still create volatility, I don't particularly want to short the CHF whilst the environment is mildly negative, so that puts an end to the anticipation trade idea.

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