Traders are at the start of potentially one of the most exciting weeks of the year, according to analysts, with an alignment of economic data, central bank meetings and company earnings heralding the perfect conditions for trading.

Uncertainty among foreign exchange traders this morning drove implied volatility in eurodollar forwards to its highest point since June 6. This was before the eurozone stress tests of banks' capital adequacy. Today has also been the largest intra-day spike since May 18, when the Greek debt crisis was in full swing.