Yesterday (26-April-2014) and today (27-April-2014) an minor earthquake swarm took place on TFZ not far from an island named Flatey. This was a small earthquake swarm and largest earthquakes had an magnitude around 2,0.
The minor earthquake swarm on TFZ. Copyright of this image belongs to Icelandic Meteorological Office.
It is difficult to know if this earthquake activity is going to continue. Earthquake activity at this location is only tectonic based, this area of Iceland is volcano free.