The fiscal cliff has been scaled, sort of, but unfortunately the only solution to every problem is to increase debt to some degree. The Japanese have been out-played in recent years in the ‘race to the bottom’ but they are now making a fighting comeback and its becoming increasingly difficult to pick the best out of a bad lot when it comes to the major currencies.

Best then to settle back into trading mode and take what the market gives us. Look for short-term emerging trends, buy dips and sell rallies, only increase risk when you are well ‘in the money’, and have some fun doing so.

Trade of the Year for me: Don’t have one yet I’m afraid.

Good luck for 2013 and may it be a healthy and prosperous one for you all.