FX Pairs Subdued

FX pairs were subdued and range bound throughout the U.S. session. As the trading year winds down, many traders are leery to place any new, large positions. As professional traders derive most of their yearly income in the form of performance-based bonuses, they are naturally keen to lock-in their earnings, and not risk any mistakes so late in the year. The British Pound did, however, sink 100-pips during the London session, based on dovish BoE commentary and Britain's decision to lessen their EU rebate over the weekend.