Cable falls to a session low of 1.3175, testing the low on Friday
The pressure is starting to build for the pound now as sellers are threatening a further move to the downside, in search of a firm break under the 1.3200 handle.

Options fever in the equity market
The FT report that SoftBank had been buying massive volumes of equity options grabbed all the attention in markets on Friday. Now there are more details of the trade, which is still largely mysterious. :

Forex news for New York trade on September 4, 2020:
Markets:
It was a wild ride in the aftermath of the non-farm payrolls report. The data itself was generally positive. The headline matched estimates but in reality it was a bit softer because of disappointing private jobs. However the unemployment rate made a big surprise drop to

The UK Times has the report, saying the European Union is demanding the potential veto.
The Times cites senior government officials in the article saying 

COVID-19  – The US Food and Drug Administration is getting political heat to approve vaccines prior to the US election.
Bloomberg report firms are planning to band together to issue a pledge to not send any Covid-19 vaccine to the FDA for review without extensive safety and efficacy data

Weekly FX speculative positioning data from the CFTC

S&P and NASDAQ break 5 week win streak
It was a wild up and down trading day for the major US stock indices. At the end of the day the major indices all fell. For the week they also declined. The NASDAQ index was the weakest today and also for the week. 

Forex news from the European trading session – 4 September 2020
Headlines:
Markets:
– CAD leads, CHF lags on the day
– European equities mixed; E-minis flat

Comments by BOE policymaker, Michael Saunders
– Rebound in activity appears to be a bit faster than in May forecast
– But the rebound has reflected a benign window, which may be closing now
This will just bring more attention to the topic of negative rates for the BOE, especially with the spectre of a no-deal Brexit looming

Further comments by Saunders
– BOE did not discuss negative rates in August meeting
– Review of negative rates is not finished
– Review will look at indirect effects on banks, lending
An interesting choice of word there by Saunders i.e. ‚theologically‘ in the sense that his central bank beliefs does not exclude pursuing negative rates as an option