Fund Performance per day (inception 20 Oct 06) : -3.695%

Today

JPY - Word has it that Watanabe may have visited Washington DC to discuss joint FX intervention with US Treasury officials. That is because USD/JPY is expected to test a
psychologically important level of 120 in the near future. Watch for the MOF's further verbal intervention in the FX market and we might see a sell off of the USD/JPY.

USD - The dollar edged slightly lower against major currencies Tuesday, on the cusp of a two-day Federal Reserve meeting on interest rate policy. The Fed is expected to keep interest rates at 5.25 percent at its meeting, which ends Wednesday, but investors are awaiting the statement that will accompany the decision for clues on the direction of future policy. Most of them expect Hawkish statements from the Fed.

Later

1400h - EUR : German Import Price Index

1445h - EUR : French Business Confidence Indicator

1600h - EUR : German IFO - Business Climate / Expectations