Wink"It is my contention that during this time fluctuations in...

Wink

"It is my contention that during this time fluctuations in the "local" currencies will be greater than in the European..."

I think the fluctuations you mention may only be very short (10pips) but frequent moves in both directions. I'd attribute this to normal foreign trade and business. If there's a greater trend present then it would occur and be visible across all pairs regardless of time of day.

One thing I've definitely noticed us that the forex markets "hots up" when the Europeans wake up, noticeable on all pairs.

Or not.