Pip Diddy

Asian session trading mostly took cues from the previous session’s risk aversion but Kiwi took a harder hit on another bearish FinMin remark.

The Greenback took hits today thanks to a combination of profit-taking and risk aversion due to Trump’s Fed Chair pick and Mueller’s investigations.

Themes from the earlier Asian session continued to play out, so EUR and GBP extended their gains while USD suffered some more. However, not all themes continued to play out since NZD was able to stage a recovery.

The Asian bourses had a pretty chill start to a potentially volatile week, as only Japan printed economic data. That didn’t stop some volatility hunters, though.

Another week of USD domination was the main theme this week. But what drove USD higher? And can you guess which currency was this week’s main loser?

Price action was choppy on most pairs during the morning London session. CHF was the only real mover since it slid across the board, likely because of the risk-on vibes. However, EUR and GBP were also net losers as well.

It was a pretty busy day for Asian session forex traders, as they priced in fresh catalysts AND caught up to yesterday’s moves.

The euro stayed on its southbound route as Draghi confirmed that the central bank is in no rush to end QE or to hike interest rates. Meanwhile, the Greenback drew some support as tax reform plans showed a bit of progress.

EUR got swamped by sellers when the ECB announced that it plans to extend its QE program at a tapered pace of €30B while maintaining its easing bias on its QE program.

Asian session forex traders took cues from the previous session and took some profits off ahead of today’s top-tier releases.