One reason for the moves, which has been pointed out by the astute ForexLive readership, is that we’re into the last full week of trading before many traders call it quits for the holidays.
As cable tests 1.5600 it’s worth having a look at the Reuters heat map to see where the action has been.
Reuters heat map 15 12 2014
Looks like Norway is seeing some decent business and that’s likely to be partly due to the effect of oil prices. Aside from the loonie after all the takeover talk everything else is decidedly chilly.
The FOMC is going to be the main focus this week and we might see things winding down afterwards.
