The quick pullback from EURUSD and yen crosses - spurred by troubling fundamentals and efforts to talk currencies down - has found limited follow through. The unique fundamental catalysts for both setups was enough to lead to short-term breakouts, but trend generation clearly requires more to shift the speculative masses to the same trade. As always, the greatest potential for market movement are underlying risk trends - which have begun to stir in the FX market. And, a new driver threatens to throw its weight around as the market recognizes its presence: competitive devaluation (called 'Currency Wars'). We discuss both of these bigger themes along with trade setups in today's video.

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