In the User Guide regarding adjusting the position of a clip it says "Select the clip in the Program Monitor or click the Transform icon next to Motion in the Effect Controls panel. The handles and clip anchor point appear in the Program Monitor which allow you to adjust the position of the clip."
Thanks. I'm completely new to Premiere Pro so I'm just trying to learn some of it. As far as I can tell, not having the icon doesn't seem to stop me doing anything. I just saw that there was supposed to be one! Does it do anything? I can get the handles and clip anchor to appear by resizing the program monitor panel.