Pip Diddy

Price action was rather choppy during today’s morning London session. However, the euro was clearly and broadly in retreat. Meanwhile, the Greenback was advancing, supposedly on speculation that Trump will give a pro-growth message later.

Forex price action was a mixed bag of nuts, as Asian session players brace for President-elect Trump’s press conference due later today.

The Greenback struggled to get back on its feet as medium-tier U.S. economic reports printed mixed results while the Loonie was bogged down by another drop in crude oil.

After sliding since yesterday, the Greenback staged a broad-based recovery on the back of rising U.S. bond yields during today’s morning London session. Meanwhile, the pound also staged its own recovery and the Kiwi got dumped.

The dollar lost more pips to its major counterparts, as a lack of fresh catalysts inspired profit-taking ahead of Trump’s inauguration.

The Greenback’s performance was as mixed as the reactions to Jimmy Fallon’s Golden Globes hosting stint, as the currency simply reacted to country-specific factors.

The pound selloff continued into the morning London session, probably because forex traders who were late to the pound dumping party are still trying to price-in Theresa May’s weekend statement.

The dollar squeezed out a couple more pips from its major counterparts, as Asian session forex traders priced in a somewhat better-than-expected NFP report and a healthy Wall Street close from last week.

The Loonie and the Aussie (and the Kiwi to a lesser extend) were in demand this week. But what was driving demand for the comdolls? And how did the other currencies fare?

Price action during today’s morning London session was relatively more subdued and choppier than usual, probably because forex traders were hunkering down for the NFP report.