It is Martin Luther King Day in the US


Major currencies are continuing to trade in a rather subdued manner today and may yet carry on later in North American trading, as we observe a long weekend in the US.

Liquidity conditions are expected to stay thin and with Wall St not offering any direction for investors to latch onto, trading sentiment remains rather indecisive to start the week.

The pound has been the notable mover so far in the European morning but it isn't too big a move as the currency stays pressured ahead of the BOE meeting next week.

Meanwhile, European stocks are more mixed with some slight weakness but are keeping near flat levels overall. That isn't lending to much direction in the risk mood with USD/JPY still resting at 110.17, trapped in a 17 pips range so far today.