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Icelandic scientists are preparing to drill into a magma chamber – geothermal power.

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Gotta be honest, I’m rather disappointed with the tepid opening to the year during the Asian timezone. Plenty of action during US time, albeit sporadic, but for us here … not much. Maybe we’re back to normal 😉

Anyway, this is very interesting while we wait for, well, anything.

Hjalti Páll Ingólfsson at the Geothermal Research Cluster (GEORG) in Reykjavík:

  • “We are going to drill into a magma chamber”
  • “It’s the first journey to the centre of the Earth”

Scientists in Iceland are planning to drill two boreholes to a reservoir of liquid rock

  • One will give first direct measurements of magma
  • The other could supercharge geothermal power

Article is here for more.

Back to FX, yen update. C’mon Bank of Japan, we’re relying on you for some volatility!

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