Adam Cole Risk Quotations

At the moment it seems like a pretty ring-fenced issue and it doesn't look like it's going to spill over into the market at large, but any risk aversion resulting from problems with trading would be dollar negative.

The risk is that the deficit is rather worse than the market is looking for and if that's the case it may swing the focus back to structural dollar negatives and away from the interest rate focus.

The general theme is one of risk aversion,

The market is increasingly seeing a risk that the Fed pauses in its rate cycle -- not only that but also the peak in the interest cycle will be considerably lower.

The market is building in a risk premium because of the uncertainty surrounding the election -- once we get that out of the way, all other things being equal, the euro will probably bounce.