There was a remarkable range of volatility across the FX majors this past session. For some of the activity, it was easy to trace back the originations of the volatility and subsequently weigh the potential for establishing a more profound trend. Yet, for others that exhibited a remarkable degree of volatility, an absence of clear impetus raises questions of where the winds formed and whether they could reasonably be expected to continue. GBP/NZD was the consumate example of a pair reacting to fundamental prompt. Both the Bank of England (BoE) and Reserve Bank of New Zealand (RBNZ) announced their monetary policy ... (full story)