According to Predicted Markets, yesterday’s 15 pips range in USD/JPY was the narrowest one seen in the pair since February 16 2004. EUR/USD had the tightest intraday range since April 18th this year.
I think this week’s events will pretty much determine the direction for the month of August. A USD-neutral outcome would be the worst possible one, as it would kill any hope for a rise in FX volatility until September…
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