We are observing increased volatitlity on the FX market mostlikely caused by the month-end fixing flows. It seems that there is no fundamental news behind these big moves in the market.
The British pound hit $1.26. Source: xStation5

The Euro jumped to $1.0972 . Source: xStation5

We can observe large movements especially in yen crosses. GBY / JPY soared 150 pips. Source: xStation5
Daily Summary: Massive Gains in U.S. Indices Completely Wiped Out
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Technical Analysis - USDIDX (02.01.2026)