We need crisis, dammit! Spain circling the drain… bloody battles between strikers and riot police…This calm range trade is driving me a bit batty!

EUR/USD remains essentially range-bound, easing back to the 1.2310 level after stalling at 1.2338 on the topside in New York.

Cable has dipped to 1.4820 from 1.4855 as the agreement between BP and the White House for BP to set aside $20 yards takes some of the shine off the bound. Profit-taking from a UK clearer has helped as well.

Shift your brain into neutral and trade EUR/USD off the S&P, if you must. Otherwise, wait for the edges, as Sean would say.