very tough environment for breakout traders here as we await for the near-term fate of the threatened China tariff announcements on Friday. The pattern of JPY strength has largely persisted, though the price action in risk-correlated assets remains choppy and nervous as we await whatever Friday will bring us. An exclusive story today from Reuters made a bit of a splash as it detailed the degree to which China's response to a draft agreement was seen as a full reversal by the US side. Elsewhere, the USD is a tad stronger on the day against EUR, but not a standout mover. One of the bigger movers today was sterling, ... (full story)