Greetings and welcome to the new FX week
Those who join us for the opening of the week will have seen my first post for the week, which (in general) warns (every week!):
- At this time market liquidity is super thin compared to most other times of the trading week, so please take care out there.
Or something along those lines
If you do have access to a trading platform (not all are open when I first post on a Monday morning) the advice to 'take care' is genuine. FX rates can jump around even on mornings (like today), when weekend news has been not overly exciting.
Take a look at cable so far today, and especially the first hour or so (chart via Bloomberg):
The range we've seen already today in it is probably greater than we'll get for the rest of the Asian session .... all on little in the way of news, and all on super-thin liqudiity
-
Check with the neighbours, skip to the 30 second mark ... turn it up!
