Pip Diddy

The Aussie and the Kiwi extended their gains from the earlier session and are now the best-performing currencies of the day (so far). And Aussie and Kiwi bulls can still thank the continuing rise in commodities for that.

Most currency pairs were range-bound yet again during today’s Asian session. And like yesterday, Aussie and Kiwi pairs were an exception yet again. This time, however, the two currencies were in a race to the top, thanks to the risk-on vibes and the commodities rally during the session.

Most dollar pairs were chillin’ like ice cream fillin’ during the New York session while yen pairs were in a frenzy thanks to North Korea’s announcement about continuing its nuclear weapons tests.

The comdolls were engaged in a bitter battle royale while the safe-haven Swissy and yen got sideswiped, thanks to recovering commodities and improving risk sentiment during the session.

Today’s Asian session was rather quiet, with most currency pairs contently milling about in tight ranges. Aussie pairs and Kiwi pairs were an exception, though, since the two currencies were in a race to the bottom, with the Aussie ultimately winning the (dis)honor of being the weakest currency of the session.

Word on Wall Street is that financial deregulation is next on the Trump administration’s agenda, lifting the Nasdaq to a new record high and allowing dollar bulls to charge.

The euro extended its losses during today’s morning London session, with the Swiss franc following suit. Meanwhile, the risk-off vibes in Europe likely gave the safe-haven yen a boost.

Macron’s victory in the French Presidential elections over the weekend gave the higher-yielding Kiwi a boost and caused the pound to weaken and the euro to gap higher, although those gaps later got filled.

Last week’s themes of euro domination and yen bashing continued to play out this week, with Aussie weakness as a new theme. What drove price action on these currencies? And how about the other currencies? How did they fare this week? Time to find out!

The Aussie and the yen had a reversal of fortunes during the morning London session. Specifically, the Aussie, one of the big losers of the Asian session, managed to stage a recovery. Meanwhile, the yen, which was the top dog of the previous session, ended up at the bottom.