Pip Diddy

The dollar lost pips across the board despite a generally risk averse forex trading environment. What’s up with that?!

All eyes and ears were still on the ECB during Governor Draghi’s presser, as the central bank head explained why they kept policy unchanged for the time being.

The ECB decided to keep its powder dry yet again, so euro pairs went nowhere. Thankfully, risk aversion during the session gave the euro and the Swissy an early boost. Watch out for what Draghi has to say in the presser, though.

Zzzzzzz. A pretty quiet start to the day, as Asian session forex traders barely reacted to today’s economic releases. So, which economic themes dominated the session?

Cautious remarks from the BOC and the BOE left the Loonie and the pound as the weakest performers of the forex bunch during the New York session.

The pound got a severe beat-down during the session, thanks to disappointing economic data. Meanwhile, the safe-havens and the higher-yielding currencies duked it out in the background.

Thanks to a not-so-disappointing GDP report from Australia and a bit of ruckus among the yen crosses, the Aussie and yen ended the Asian forex trading session higher against their counterparts.

The Greenback had a miserable day after Uncle Sam printed downbeat reports that further dampened hopes of another Fed rate hike for the year.

Compared to the earlier Asian session, price action during the morning London session was in the doldrums. Most currency pairs were trading sideways, but Swissy and Aussie pairs were clearly on the move.

The Aussie was the biggest winner during the Asian session, as overall risk appetite got mixed in with a not-so-dovish RBA policy decision.