Pip Diddy

The Greenback took small steps back against its major counterparts, as a bit of profit-taking dominated forex trading during the Asian session.

Risk rallies and USD gains were more subdued lately as market watchers seem to be waiting for a fresh round of catalysts.

Price action was relatively calm during Monday’s morning London session. However, both the Swissy and the pound were on the move, even though there were no apparent catalysts.

The Greenback gained a couple more pips against its major counterparts despite the release of better-than-expected reports during the Asian session. What’s up with that?!

All eyes were on the Greenback this week, but the pound somehow managed to steal the show. How on earth did that happen? Well, time to find out what was driving price action on the pound and the other currencies this week!

Today was another data-light day, with some European markets closed for Armistice or Veterans day to boot. Price action was therefore relatively more subdued and choppy. There were movements, though, with risk sentiment apparently being the main driver yet again.

With not a lot of major data on the docket, the Asian bourses continued to party in the streets on the back of expected improvements under the incoming Trump administration.

U.S. traders seem to be in good spirits, allowing most equity indices to close higher for another day and banking on the hope that a Trump presidency probably isn’t the worst idea.

Only low-tier items were on the docket for today’s morning London session, so price action was a bit choppy on some pairs. There was directional movement, though, and forex traders seemed like they were turning mainly to risk sentiment and commodities for direction.

Risk appetite reigned supreme during the Asian session, as forex traders caught up to the post-election rallies from the previous sessions.