Since the last episode, the markets have experienced a relatively quiet period, with most major currencies trading within narrow ranges. There were, however, some exceptions in Scandinavia, where certain currencies rallied sharply. For instance, the Swedish krona jumped following a hawkish announcement from Riksbank. On the other end of the scale, the euro underperformed and was the only G10 currency that failed to rally against the US dollar.
That being said, there has been a noticeable increase in volatility around this week's main event, the US inflation report for January, which is due to be released on Tuesday.
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