Pip Diddy

The Aussie was king of pips thanks to a much stronger-than-expected data release. Meanwhile, the Asian bourses had a mixed day on different domestic pressures.

After a sharp tumble in the earlier session, sterling made a quick rebound on discussions about extending the Article 50 deadline for Brexit.

The pound was on the receiving end of a rather severe pounding, thanks to the U.K.’s disappointing CPI report. The safe-havens yen and Swissy, meanwhile, were able to fight back against the Greenback.

There were no fresh headlines to rock the market boat, so traders focused on extending the previous session’s economic themes.

The Greenback was already having a good run leading up to Fed head Powell’s testimony and his remarks drove the currency even higher.

Europe was hit by another wave of risk aversion, which gave the Swissy a boost while weakening the higher-yielders, especially the Aussie. The Greenback, meanwhile, was in recovery mode ahead of Powell’s speech.

Kiwi was king of pips during the Asian session, as a strong CPI reading brought the bulls to its yard.

The Greenback was off to a shaky start but managed to regain some footing thanks to mostly upbeat data and a bit of risk aversion.

Today’s morning London session was rather subdued. With that said, the Swissy was bid higher across the board as risk aversion returned. The Greenback, meanwhile, got hit by selling pressure.

The Greenback was the top boss in last week’s trading. Will this week’s top-tier reports keep the momentum going for the dollar?