Just out of interest, nothing serious but I suppose it might help others who trade EUR/GBPUSD?

I was talking to a fellow trader yesterday and we both were talking about how we got involved involved in forex first before switching to futures. And something that came up was the lack of any real understanding of the volume driving spot fx which therefore drives forex futures.

We all know the importance of the open and the volume that is poured into stocks at the US open etc, but I/we were wondering - does the EUR/USD and GBP/USD actually have an open like the stock market e.g. 8am UK time etc with a big spike in volume? Or does the volume just sort of pick up for the first few hours of trading in the London and US session?

And then we both realised that in all the conversations we've had and all the things we've read, no one has ever provided a definitive answer to this. Large players/people working for institutions seem to keep quiet! The closest I got was talking to a fella from GS who just turned round and said that the euro was basically Germany and that's it. He wasn't wrong either-any news from any other country makes no difference, but get a miss on German economic data and hold onto your hats This was many years ago so was earth shattering at the time. Well, for me anyway...