Pip Diddy

It was a relatively quiet session with Japanese traders out on holiday, so forex traders mostly prepared for the Fed and RBNZ’s statements.

The Greenback was in a pretty good mood a day ahead of the FOMC decision while the Loonie drew some support from Canadian wholesale sales and higher crude oil prices.

The Greenback came out on top after barely edging out a win against the Aussie and the Kiwi. The pound, meanwhile, came under pressure after the U.K.’s latest CPI report failed to impress. The pound wasn’t the biggest loser of the session, though.

With not a lot of top-tier reports on deck, Asian session forex traders focused on pricing in yesterday’s headlines and this week’s upcoming catalysts.

Sterling extended its gains on more signs that the U.K. and E.U. are starting to see eye to eye when it comes to the post-Brexit transition and the Irish border issue ahead of the summit later this week.

Risk aversion persisted, but the yen was forced to surrender its gains from earlier, likely because of the rise in global bond yields. The pound, meanwhile, surged higher ahead of and during Davis and Barnier’s press conference on Brexit. 

It’s FOMC week! Will the Fed raise its rates for the first time this year as forex market players are expecting?

The Loonie got a one-way ticket to the bottom of the charts last week. Will this week’s reports do the comdoll any good?

It could be another mixed week for the euro and the franc since the lack of top-tier catalysts for both currencies could leave ’em sensitive to their counterparts’ movements.

There weren’t a lot of reports printed during the Asian session, so forex traders started unwinding and/or placing their bets ahead of this week’s biggest event: the FOMC statement.