Pip Diddy

Dollar pairs were all over the place during the New York session as the U.S. currency got a small boost from the FOMC minutes but returned to earlier levels just as quickly.

There was a three-way race between the Aussie, Kiwi, and pound, but the Aussie was able to pull ahead to claim the top spot. The Greenback, meanwhile, was feeling some pressure ahead of the FOMC’s meeting minutes.

With no major economic report to price in, Asian session market players focused on the looming tariff policies that will kick in tomorrow.

After a weak run in the earlier trading session, the euro quickly got back on its feet when a report suggested that ECB members support a hike before December 2019.

The Greenback staged a broad-based recovery during the session. The pound gave the Greenback a real challenge, though. The euro, meanwhile, was swamped by sellers.

Better-than-expected reports from Australia and China lifted the Aussie and Kiwi, while pre-holiday flows and lower Treasury yields continued to weigh on the Greenback.

The Greenback was unable to claw its way back to the top spot as risk-on vibes lingered while the New York session rolled along.

The Greenback’s rally stalled and selling pressure was clearly present. One currency’s loss is another currency’s gain, though. In this case, the comdolls gained at the Greenback’s expense.

The Kiwi continued its decline after a weak quarterly business survey, while a deal between Merkel and Seehofer gave the euro some reprieve.

The Greenback held on to the top spot throughout the day, getting an additional boost from upbeat data and rising bond yields.