Pip Diddy

Price action during today’s morning London session was rather wonky since the Aussie and the Kiwi outperformed despite the risk-off vibes and the commodities rout. The pound’s price action was a bit wonky as well, given that it got slapped broadly lower, even though there were no direct catalysts.

The Aussie took hits across the board after Moody’s downgraded China’s credit rating. Meanwhile, the pound gained pips even as the terror threat in the U.K. is raised.

It seems that no news is good news for the Greenback as the U.S. currency got back on its feet to wait for the FOMC minutes coming up.

The euro initially surged when positive soft data got released, but lost traction and began to slip as the morning London session progressed. The yen, meanwhile, was under bearish pressure, likely because of the returning risk-on vibes.

Risk appetite started on shaky footing on the back of an explosion in the U.K., but the tides soon turned in favor of higher-yielding currencies despite a lack of economic catalysts.

The lack of top-tier U.S. reports and the bank holiday in Canada led to a relatively quiet trading session, with the dollar slowly inching lower and the Kiwi outperforming the rest.

The forex calendar for today’s morning London session was empty. Even so, there was price action aplenty since the euro and the Swissy strapped on some booster rockets and soared over their peers. The Greenback, meanwhile, gave back its gains from earlier.

The Asia-Pacific region is starting the new trading week on an upbeat note after last week’s intense bout of risk aversion. And this risk-friendly environment apparently gave the higher-yielding Kiwi a boost. The safe-haven yen, meanwhile, groaned in pain.

Everybody probably already knows that the U.S. dollar got a major smack-down this week. And I’m sure almost everybody already knows why, too. But can you guess which currency ended up as this week’s top dog?

Not much in terms of events or news during today’s morning London session. Still, the euro and the pound did find a lot of buyers. The Greenback, meanwhile, was clearly feeling some bearish pressure.