After A Funeral

Haven’t seen the markets for 2 days straight as I attended a funeral. But before I left town, I took off my GBPJPY hedge and bolstered my Europe shorts and dollar longs. Whilst on my funeral holiday, both ECB and BOE kept rates steady and although these actions were widely expected by the markets, I think they are the catalyst for position liquidations. Employment and payroll reports from the US are due tomorrow night, and like the rate decisions these info could become the proverbial straw that broke the camel’s back.