Pip Diddy

The pound was broadly in demand during today’s morning London session while the Greenback had a more mixed performance after tumbling during the earlier session.

The dollar’s bloodbath extended to the Asian session after the Republicans’ “repeal and replace” plans got nixed. Meanwhile, forex traders flocked to the yen amidst the overall risk aversion.

Lots and lots of events this week. But in the end, the yen was the one currency to rule them all while the Aussie was the one currency that was ruled by all. So, what drove price action on these currencies? And how did the other currencies fare this? Read on and find out!

The safe-haven yen and Swissy, together with the lower-yielding euro, were fighting it out for the top spot during today’s morning London session, thanks to the risk-off vibes. The Greenback, meanwhile, was in retreat, likely because of jitters ahead of the vote on the U.S. healthcare bill.

The dollar bounced back from its late U.S. session losses after U.S. officials hinted that Trump is “done negotiating” and is calling for a vote this Friday.

After hours of intense deliberations and a lot of anticipation, traders were disappointed to find out that the House of Representatives decided to delay the healthcare bill vote. Where is Frank Underwood when you need him?

Another choppy European session today, very likely because market players are waiting for the vote on the U.S. healthcare bill. There was some wonky price action, though, since the yen was mostly higher despite higher bond yields and the overall risk-on vibes.

With no major market mover on the docket, Asian session forex traders focused on currency-specific price action.

The Greenback was all over the place in the latest New York session as the currency simply reacted to country-specific data and headlines while European currencies and comdolls turned lower.

Price action was a bit choppy across most pairs, but the yen clearly reigned supreme during today’s morning London session, thanks to slumping bond yields amid another round of risk aversion.