Pip Diddy

So much for expecting an upbeat BOC statement! Loonie bulls were heavily disappointed by the Canadian central bank’s lack of rate hike hints, taking the currency down to its lowest level in a week.

The pound got whupped hard when the U.K.’s CPI report turned out to be a disappointment. Meanwhile, the euro outpaced the yen and was the best-performing currency of the morning London session.

Asian session players focused on easing tensions in the Korean peninsula as well as risk-taking from the previous sessions.

Dollar demand returned once the New York session rolled along, thanks to mostly upbeat U.S. data and positive remarks from FOMC members.

There were lots of themes during the morning London session, with GBP and CHF weakness, as well as CAD strength, being the main ones.

The Aussie and Kiwi took small hits across the board thanks to a dovish RBA meeting minutes and not-so-promising Chinese economic reports.

Sterling extended its stay in the top spot during the New York session while the Greenback barely reacted to stronger than expected U.S. retail sales.

The European currencies outperformed their peers during the morning London session, with GBP ultimately claiming the top spot. Meanwhile, NZD encountered selling pressure across the board, likely because of the risk-off vibes in Europe.

The Greenback is currently the third-worst performing currency of the week (as of 5:00 pm GMT). But what (or who) caused the Greenback to underperform most of it peers? Well, read on and find out.

The BOC is scheduled to print its policies this week. Will the central bank break the Loonie’s winning streak?