The heart-breaking part of Thursday for forex traders was the lack of volatility. Bonds, stocks and commodities were blowing up but aside from some larger (but orderly) moves in the yen, very little happened.
Today might be a different story. The pound is wilting and the euro is below 1.3530/25 despite a pair of healthy option expiries there. Bids start at 1.3513 and extend down to the big figure.
The Australian dollar shot higher and squeezed stops through 0.9400 to 0.9411 but has quickly dropped down to 0.9380. Aside from the Canadian dollar moves, there aren’t any headlines driving the moves.
