Today (02-Octorber-2014) there was an minor earthquake swarm in TFZ. Largest earthquake in this swarm had the magnitude of 3,3. This activity is only tectonic in nature, this earthquake activity is not connected to any volcanism activity.
Earthquake activity is common in this part of Iceland. Since there is a fracture zone at this location and it’s highly active at times. I don’t know if there is going to be any more earthquake activity at this location.