Pip Diddy

No data? No problem! The Greenback was able to regain a bit of ground against its rivals as traders are starting to prep for the FOMC statement later this week.

The forex calendar for today’s morning London session was pretty bare, so currency traders turned mainly to risk sentiment and commodities for direction. The main mover was marching to the tune of its own drummer, though.

The Greenback was the biggest loser today, as risk-taking got mixed in with forex traders taking off their dollar positions ahead of the FOMC meeting.

Pound weakness was the name of the game last week. Aside from that, demand for the Japanese yen was also a major theme. Let’s look at what was driving price action for these and the other currencies, shall we?

Not much on the docket for today’s morning London forex session, but there was price action aplenty as forex traders turned mainly to risk sentiment and commodities for direction.

Forex price action was as exciting as watching paint dry, as a lack of catalysts kept traders in the sidelines. Here’s what happened in the last few hours.

Uncle Sam’s data dump turned out mostly weaker than expected, dampening Fed rate hike hopes once more. Here’s how it all turned out.

The spotlight was on the pound during the morning London session, thanks to the BOE’s MPC statement. And it turns out that MPC officials still have an easing bias, which is probably why the pound got slapped lower against its peers.

Risk aversion was the name of the game during the Asian session, as forex traders priced in weaker-than-expected data and central bank speculations.

You win some, you lose some! The Greenback had another off day as it returned some of its recent gains in the absence of top-tier U.S. data.