Pip Diddy

The pound and the Loonie pulled back from their recent rallies when BOE head honcho Carney and BOC policymaker Lane gave their testimonies. Here’s what they had to say.

GBP retreated during the session, as BOE Guv’nah Carney’s speech loomed. CHF, meanwhile, was in demand despite the risk-on vibes.

Not a lot of data on the docket today, but that didn’t stop Asian session traders from buying up high-yielding currencies!

Pound domination and yen weakness were the main themes this week. So, what drove forex price action? And what about the other currencies? How did they fare this week?

BOE’s Vlieghe gave a hawkish message earlier today that gave GBP another bullish infusion. JPY, meanwhile, was apparently weighed down by higher bond yields.

Asian session traders woke up to North Korea firing another missile in Japan’s direction but the spikes didn’t last for long.

Not so fast! While the upbeat U.S. headline CPI revived December Fed rate hike hopes, the scrilla was unable to hold on to its lead as fresh jitters on North Korea came up.

The spotlight was on the pound during the session, thanks to the BOE statement. And since the BOE hinted at a likely rate hike, the pound found itself surging higher.

Volatility was muted for major currencies save for the Aussie, which was sent all over the charts by Australia’s jobs report and China’s data dump.

Market factors such as the increased focus on tax reform, upbeat CPI expectations, and record highs for equity indices combined forces to lift the U.S. currency for the third day in a row this week.