FX Markets Await Greenspan

FX markets were very much range-bound Monday in the absence of any essential data. Tuesday may be a busier day, as it is Alan Greenspan's last Fed meeting, and many will be looking forward to his closing comments after the meeting. His "hand-off" remarks will be analyzed for clues as to whether the Fed will be moving higher in March, as well as his overall feeling on the economy as he leaves his position. There is no Fed meeting in February. The ECB will also be meeting on Thursday.