Wednesday 2 July

The general market mood remains positive, and particularly sentiment for the USD remains in the douldrums. All of a sudden, there is talk of three FED cuts by the end of the year (although I think that's a bit ambitious). A soft NFP report could cement multi year USD weakness. But pre (Thursday's) NFP I suspect we could see some dollar profit taking.

Currently, I see 'risk on' short JPY (or CHF) as very viable, the risk to a trade would be USD liquidity if the dollar continues to weaken.

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