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Forex pairs in this Article » EUR/USD, GBP/USD (Córdoba) - The HSBC analyst team commented that polarized positions in EUR/USD and GBP/USD heighten the risk of surprise-led moves as liquidity decreases into the year-end and ahead of the Fed meeting next week.

Key Quotes

"The HSBC Positioning Indicators imply that systematic trading positions and discretionary positions are highly polarized for EUR/USD and GBP/USD".

"With reduced liquidity in the run-up to the holiday period and a looming FOMC meeting, there is significant risk of surprise-led moves being amplified by position clear-outs".

"We anticipate increased short-term volatility and sharp directional moves".
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