Pip Diddy

Forex price action was as exciting as watching water boil, as Asian session traders stayed in the sidelines ahead of the FOMC meeting minutes and Trump’s meeting with China’s Xi Jinping.

The U.S. dollar had a mixed performance as it slid lower to most of its counterparts but consolidated against the pound and Kiwi. What’s up with that?!

The yen extended its gains during the morning London session, thanks to plunging bond yields and the overall risk-off vibes in Europe. At the same time, the risk-off vibes kicked the poor Aussie even lower for the day. The pound, meanwhile, had some two-way price action.

Earlier today the RBA kept its interest rates unchanged at 1.50% as expected. So why did the Aussie (and a lot of higher-yielding currencies) see losses during the forex trading session?

It wasn’t such a manic Monday for New York session traders as the major pairs were mostly confined to their ranges, waiting for the bigger events lined up later in the week.

The pound got slapped lower across the board during the session, thanks to the miss in the U.K.’s manufacturing PMI reading. Meanwhile, the Kiwi ended up as the one currency to rule them all.

Forex price action was a mixed bag of nuts, as currency-specific reports pushed the major currencies in different directions. Here’s what’s up!

The pound shrugged off the risk events this week and ended up dominating all. The euro and the Swissy, meanwhile, both got a severe smack-down. So, what drove price action on these currencies? And how did the other currencies fare this week? Well, time to find out!

Price action was a bit choppy during today’s morning London session. The pound did find some broad-based demand, however, while the Aussie showed weakness against all its peers.

Risk-taking was the name of the game during the Asian session, as a surge of economic reports fired up the major currencies all over the charts.