Pip Diddy

GBP added to its losses after the U.K.’s GDP report was released during the session. GBP wasn’t the biggest loser, though, since that (dis)honor goes to EUR. As for the session’s champ, that happens to be JPY, likely because of the risk-off vibes.

The low-yielding yen dominated the forex scene as overall risk aversion overshadowed the Fed’s hawkish FOMC minutes and the return of Chinese traders from their holiday.

The Greenback tossed and turned for the most part of the trading session, getting support from upbeat PMI readings then dipping around the release of the FOMC minutes before recovering again.

The yen really enjoyed the risk-off vibes during the session, so much so that it ended up being the top-performing currency of the session. The pound, meanwhile, got swamped by sellers before and after the U.K.’s jobs report was released.

The Aussie and yen were the biggest movers, as forex traders priced in a weak report from Australia while preparing for today’s FOMC meeting minutes.

The Greenback closed in positive territory for the second day in a row as risk aversion seems to be present. Equities ended up in the red while commodity currencies also took hits.

GBP got a bullish infusion from a Brexit-related report. The Kiwi gave the pound a run for its money, though, likely because the risk-on vibes. However, the same risk-on vibes likely weighed down on the safe-haven Swissy.

There were hardly any market-movers during the Asian session, so forex traders focused on pricing in RBA’s latest meeting minutes. Meanwhile, the dollar extended its gains from the previous session.

Trading was relatively subdued on Monday’s New York session as most market participants were out enjoying the President’s Day holiday. The Greenback took advantage of this to recoup some of its losses in the previous week.

Markets still seem to be in snooze mode as Chinese markets are closed for the entire week while U.S. banks are also closed for the President’s Day holiday.