The lack of volatility in the FX market is increasingly becoming an issue and despite plenty of geo-political upheaval and economic changes in fortune, the market seems to be increasingly stuck in sideways mode. At least we’ve had decent moves in some of the crosses but those who are trying to earn a living from big trending moves will certainly be struggling.
The early Asian interbank market is now up and running for the week and we are seeing a modest rise in the Yen crosses, probably due to pre-weekend risk-off trades now being taken off. EUR/JPY is around 20 pips higher at 141.45, EUR/USD 1.3835, USD/JPY 102.25, AUD/USD .9275 and cable 1.6795.
Have a great week.