President Trump's tariffs on China have taken effect on the week when the Fed meets to raise rates for the 3rd time this year and speculation mounts on whether UK voters may be called up again as talk about a second referendum or a snap election will be the way to go. CFTC positioning showed big moves in GBP and AUD. There are holidays throughout Asia to start the week, while Germany's IFO sentiment survey emerged slightly better than expectations. ECB president Mario Draghi indicated today “relatively vigorous” pickup in Eurozone inflation, further bolstering chances that ECB will begin raising rates next year after it concludes its QE program in December. A new USD trade has been issued to Premium subscribers, supported by 2 charts.