Pip Diddy

Asian session traders favored the Greenback ahead of the NFP report, while domestic catalysts dragged the Aussie and the pound lower.

It’s all good in the ‘hood for Uncle Sam as a few Fed officials expressed their inclination for a December hike while the Trump administration took some steps forward in tax reform. 

Not much on the docket today, but there was plenty of action since JPY went into Godzilla mode and whupped its rivals, with GBP and CHF getting crushed underfoot.

With not a lot of major data on the docket, Asian session traders focused on selling the Aussie after Australia’s retail sales came in weak.

Economic data from the U.S. turned out mostly better than expected but these weren’t enough to lift the Greenback’s spirits as it worried about a potential leadership change in the Fed.

Price action was rather choppy today, but JPY clearly dominated. USD, meanwhile, extended its losses from earlier. As for GBP, it was steady despite the services PMI beat.

The possibility of a less hawkish Fed Governor sent the dollar lower across the board, enabling comdolls like Aussie and Kiwi to recover from their lows.

The Greenback was able to hold on to most of its recent gains against some of its peers thanks to positive auto sales data and a strong showing in the stock market. 

GBP suffered for another day, thanks to the U.K.’s disappointing construction PMI. Meanwhile, EUR was able to stage a broad-based recovery while USD gave back its gains.

The dollar continued its bullish run during the Asian session while reports from Australia and New Zealand weighed on the Aussie and Kiwi.