Pip Diddy

No major reports from New Zealand! Does this mean that Kiwi’s price action will depend on overall risk sentiment?

The euro got stomped during the morning London session. One currency’s misery is another currency’s gain, though. In this case, it was the safe-haven yen that benefited the most.

Asian session players stayed away from higher-yielding assets ahead of the weekend G7 meetings and next week’s Fed and ECB events.

The Swiss franc and Japanese yen enjoyed safe-haven flows for the most part of the session on lingering market jitters on trade tensions and Brexit uncertainties.

The pound was the worst-performing currency of the session. The euro and the Swissy, meanwhile, were the main winners. And between the two, it was the Swissy that came out on top.

The Aussie took hits on a narrower Australian trade surplus. Meanwhile, jitters ahead of this weekend’s G7 Summit kept risk-takers in the sidelines.

Risk appetite was the name of the game as most higher-yielders chalked up big gains. The Loonie, however, was unable to join the party due to NAFTA troubles and a crude oil build.

The euro was the one currency to rule them all during the session, thanks to hawkish rhetoric from top ECB officials. The euro wasn’t the only currency that was on the move, however.

The Aussie, Loonie, and Kiwi all stole the show during the Asian session as strong economic reports got mixed in with positive NAFTA prospects.

Word that the next ECB decision will be a “live meeting” and positive remarks from Italy’s new PM spurred a rally for the shared currency.