Pip Diddy

Dollar bears painted the town red while bulls booked profits even after the FOMC announced a 0.25% rate hike as head honcho Yellen stayed cautious on inflation.

Trading conditions were relatively tight as forex traders braced themselves for the FOMC statement. GBP was an exception, though, since it jumped higher ahead of the U.K.’s jobs report, but encountered sellers later.

With not a lot of economic data to price in, Asian session forex traders got busy with the Senatorial race in Alabama. Meanwhile, other major currencies stayed in tight ranges ahead of the FOMC statement.

Slow and steady does it! The Greenback edged higher for the most part of the session thanks to upbeat PPI, FOMC expectations, and tax reform progress.

Price action was rather choppy during today’s morning London session. Aussie pairs were on the move, though, since the Aussie traded broadly higher against all its peers.

The major currencies mostly stayed in Snoozeville for most of the Asian session as they wait for top-tier events scheduled in the London session.

Dollar bulls seem to be getting into position ahead of the main economic calendar events this week while the pound carried on with its slide from earlier in the day.

The forex calendar for today’s morning London session was pretty barren, but there was enough action to keep the session interesting, with the yen broadly higher and CAD and GBP broadly lower.

Dollar selloff was the name of the game, as risk appetite and a bit of positioning ahead of this week’s top-tier events pushed higher-yielding currencies higher.

The Greenback was the one currency to rule them all this week. But what pushed the Greenback higher. Also, do you wanna know which currency was at the bottom of the forex heap this past week? Well, read on and find out!