Pip Diddy

The Aussie was king of pips during the Asian forex trading session after a speech by Philip Lowe supported speculations that the RBA is done cutting its rates.

The Greenback paused from its recent rallies as downbeat medium-tier reports gave traders reason to doubt that a March Fed rate hike is in the bag.

The lower-yielding euro and the safe-haven Swissy had a tough time during today’s risk-friendly morning London. The Loonie, meanwhile, got some love when oil prices jumped.

The Greenback dominated most of its major counterparts, as a lack of major economic reports turned investor attention to higher bond yields and the upcoming FOMC meeting minutes release.

U.S. traders were out on a holiday but that didn’t stop the Greenback from raking in some gains against its forex rivals during the latest trading session.

Not much lined up on the docket for this session and the U.S. will be having a bank holiday later, so price action was rather limited. Pound pairs were on the move, though, since the pound got bid higher across the board during the course of the session.

The dollar’s price action was a mixed bag of nuts, as it gained ground against low-yielders like the yen and franc, but lost pips against the comdolls and the European currencies. What’s up with that?!

The yen ended up on top while the pound got dethroned once again after briefly regaining its throne last week. So, what drove forex price action this week? And how did the other currencies fare? Well, read on and find out.

Yen domination was the name of the game during today’s morning London session, as global bond yields plunged and European equities retreated. The pound, meanwhile, got a good beating after U.K. retail sales missed big league.

Ho-hum. Forex price action was as exciting as watching paint dry, as Asian session traders stayed in the sidelines amid a lack of economic catalysts.