The FOMC minutes caught markets a little by surprise: Hawkish Fed talk overshadows strong ADP jobs report. The risk trade has subsided further during the Asian timezone, AUD and NZD notable casualties in the FX space as speculation mounts on a sooner than expected rate hike from the Fed and a balance sheet trimming following: Goldman Sachs says Fed balance sheet runoff could start soon. JPM say in September. AUD and NZD are both heavy on the session, AUD/USD for example: {chart} (full story)