AUD/USD opened around .9150, fell to 12, rallied to 90 and is now back at 65. Similar stories can be told for the EUR/USD and the cable whilst USD/JPY has been its usual boring 15-pip self. I know I keep repeating myself but these markets are starting to feel very much like December holiday markets; thin, volatile and often without reason. Traders should do well as it’s a case of selling when it looks really bid and buying when it looks really offered, because the extremes will be caused by the Desperadoes chasing one last year-saving trade. Sorry, but it very seldom comes off.