Some colour to go alongside the moves today
Trading desks are noting that most of the action today has been in the crosses and that appetite for pushing the majors about is lacking.
The yen is never usually far from the trouble and both GBPJPY and EURJPY (to a lesser extent) are pushing around their big cousins.
Markets are really in a state of flux right now. The Fed trade is all but done and dusted so really, there's nothing to do except conduct forex business for the 100's of other reasons that FX exists for.
Outside of any major news or shocks, I'm expecting this low vol ranging to drag on.
