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Today being an Easter holiday across Europe with markets closed is a good opportunity to assess liquidity conditions across the spectrum. No you’re not reading wrong: while liquidity today is thin, this day provides us with a rare opportunity to get a glimpse of which pairs remain liquid despite the majority of traders being away from their desks.
While spreads across most majors like the EUR/USD, the USD/JPY and the AUD/USD have been fairly normal at between 1 and 3 pips, the conditions in the GBP/USD pair are notably worse than usual. This morning speeds on the pair have been fluctuating ... (read more)