Pip Diddy

Major currencies may have traded in tight ranges, but that didn’t stop equities and commodities traders from having a lively trading session!

Dollar bulls retreated as it dawned upon them that all the political back and forth won’t likely have tax cuts ready before the end of this year.

EUR charged higher across the board, but CHF gave EUR a run for its money. Meanwhile, GBP came crashing down, even though there were no apparent catalysts.

With no major economic report on the docket, Asian session forex traders focused on the overall risk-friendly vibe from the previous trading session.

Kiwi bulls charged during the RBNZ decision as the central bank predicted that the economy would hit its inflation target earlier than previous expected and probably hike interest rates sooner, too.

GBP extended its losses during the morning London session. JPY, meanwhile, got bid higher across the board, very likely because of the risk-off vibes. As for NZD, it was also mostly higher ahead of the RBNZ statement.

The dollar was the biggest mover of the session as Asian session forex traders focused on tax-related updates and Trump’s upcoming speech in South Korea.

The U.S. dollar shrugged off upbeat medium-tier reports as traders were zoned in on Quarles’ speech and tax plan updates while the Kiwi tumbled on the third consecutive decline in GDT dairy prices.

USD extended its gains from earlier. However, it lost out to CHF while barely winning out against against JPY. The commodities rout, meanwhile, took a heavy toll on all the comdolls.

The RBA may have printed its policy decision earlier today, but forex traders had their eyes on other catalysts. Here’s what’s up!