Pip Diddy

Even though U.S. reports were mostly upbeat, dollar bulls were disappointed that Trump still hasn’t shared the deets on his “phenomenal” tax plan during his speech yesterday.

Not much on the docket for today’s morning London session, so forex traders apparently turned to the risk-off vibes for direction, since the higher-yielders got dumped while the safe-havens were in demand. The Greenback, meanwhile, extended its losses.

Profit-taking was the name of the game during the Asian forex trading session, as a lack of major catalysts inspired traders to book profits from the previous days’ price action.

Retreat, bulls, retreat! U.S. data came in mostly stronger than expected, but Fed head Yellen dialed back some of her hawkish remarks in her latest testimony.

Today’s morning London session was another choppy session. The European currencies all took hits, though, with the pound getting another smack-down, thanks to disappointing wage growth. The euro and the Swissy, meanwhile, were also steadily in retreat during the course of the session.

The dollar gave back some of its gains from the previous session, as Yellen’s hawkishness translated to risk appetite during the Asian forex trading session.

Dollar domination! Fed head honcho Janet Yellen was the star of the show as she confirmed that a March rate hike is possible while other U.S. central bank officials supported her view.

There were lots of economic reports during the session, but price action was very choppy, likely because forex traders were waiting for Fed Head Yellen’s testimony. The pound was on the move, though, since it got dumped.

Jitters ahead of Yellen’s testimony limited dollar demand during the Asian forex trading session, while overall risk aversion didn’t stop comdoll bulls from pricing in China’s strong CPI and further recovery in oil prices.

No data, no problem? Currency-specific headlines sparked plenty of movement in the forex charts, with traders showing more love for the dollar and yen.