Pip Diddy

The dollar continued to claw its way back up, while yen crosses extended their weekly rallies ahead of Japan’s three-day weekend.

Fed head honcho Yellen had another testimony, along with a couple of Fed officials, but was still unable to provide much clarity on the timing of rate hikes and the balance sheet runoff.

The euro-bashing continued, although the euro did find support later. NZD and AUD, meanwhile, fought bitterly for the top-spot during the risk-friendly session.

Yellen’s not-so-hawkish tone and China’s strong trade numbers both contributed to a risk-friendly environment…for equities.

It’s a rate hike, fellas! Loonie bulls charged upon seeing a hawkish decision by the Bank of Canada, followed by upbeat statements during the presser.

Trading conditions tightened a bit but there was still enough action to keep the session lively since GBP was in recovery mode while CAD slipped.

Positioning ahead of Yellen’s testimony weighed on the dollar while iron ore prices pushed the Aussie higher.

Dollar bulls retreated after Fed officials shared their mixed views on the timing of future rate hikes and balance sheet reinvestment, but the pound was the biggest loser for the day.

Not much on the docket for today’s session. Still, there was decent enough price action since GBP managed to find some buyers while CHF got whupped yet again.

Major currencies were all over the charts today, as traders priced in both risk appetite and dollar strength.