Pip Diddy

U.S. session traders appear to be in holiday mode already as dollar pairs cruised slowly while the Loonie gave up some ground as the fifth round of NAFTA talks are about to close.

EUR staged a broad-based recovery during the session. CHF, meanwhile, found sellers likely because of the risk-on vibes. And while GBP was mixed, it had rather uniform two-way action.

There was no clear direction for most major currencies, except for the euro which was weighed down by concerns over Merkel failing to form a coalition government.

Comdoll-bashing was the theme this week, with the Kiwi getting the worst of it. Another theme was demand for the lower yielders, especially the yen. So, what drove forex price action? Time to find out!

NZD and AUD slid even lower during the session. And this time, GBP joined the losers’ club. EUR, meanwhile, found buyers after ECB Overlord Draghi gave his speech.

The Greenback returned some of its recent wins on reports of a subpoena for Trump’s campaign documents while the Aussie and Kiwi headed south.

Risk appetite was the name of the game during the late U.S. session after the House of Representatives passed its version of a tax bill.

GBP outpaced all its peers to come out as the top-performing currency of the morning London session, thanks to the latest U.K. retail sales report. The returning risk-on vibes, meanwhile, apparently weakened demand for CHF.

Investors appeared to be biting their nails while waiting for U.S. tax reform updates, yet the Aussie managed to pocket some gains thanks to lower joblessness.

The Greenback tried (and failed) to regain some of its pips despite a relatively good set of economic reports from Uncle Sam.