Last year was a turbulent time for financial markets but also a year of record-low volatility for the foreign exchange market. Political tension across different geographies and the fear of a global recession as the year progressed: these were just some of the things impacting every market.
The policies of central banks certainly minimized volatility. However, some commentators have said there was a wait-and-see approach due to the major economic and political events that have been unfolding over the past year. They also added the lack of movement in foreign exchange was merely the calm before the storm.
