Pip Diddy

It was a pretty volatile trading session for forex traders, as they priced in China’s latest GDP release, Janet Yellen’s speech, and await Trump’s inauguration.

Rally and reverse! The Greenback was off to a strong start but was unable to hold on to its intraday gains despite mostly upbeat data.

Price action was rather muted during today’s morning London, likely because traders are waiting for the ECB presser. It’s wasn’t a complete snooze fest, though, since there were some rather wonky directional movements from the Aussie and the Kiwi.

Forex price action was relatively subdued during the Asian session, as traders braced for today’s ECB policy decision and Trump’s inauguration tomorrow.

Dollar domination was the name of the game as U.S. data hit the mark while Yellen hinted of a rate hike in the coming months. Meanwhile, the Loonie lagged after the BOC presser.

The risk-off vibes apparently fueled demand for the safe-haven Swissy while the slump in oil prices dragged the Loonie lower. All the while, the pound steadily gave back its gains from yesterday’s super rally.

The dollar took a breather from its losses from earlier this week as traders brace for Yellen’s speech and Trump’s inauguration this weekend.

The Greenback ended lower against its peers on weak data, mixed Fed rhetoric, and market jitters leading up to the Donald’s inauguration. U.S. equities closed in the red as well.

The pound got a double boost from a good CPI reading and Theresa May’s speech. The Greenback, meanwhile, continued to slide lower against its peers, although it did beat back the yen in the end.

The dollar lost a couple more pips against its major counterparts, as Trump-related jitters trumped (pun intended) concerns over Theresa May’s speech later today.