Todd Colvin breaks down the start-of-week decline in Euro FX futures as prices touched 1.1460 before recovering to close near 1.1470. With the currency trading in a tight range since the latest FOMC meeting, Colvin examines the rise in the CVOL index as the market searches for clarity. Finally, he outlines the latest speculative positioning data, noting the exit of net short positions ahead of Friday's upcoming CFTC report.