Pip Diddy

Today’s morning London session was relatively more subdued than usual, with some currency pairs trading sideways. The pound was clearly on the move, though. And the same can be said for the Loonie and the Swissy.

It was a tough trading session for the high-yielding currencies, as risk aversion dominated the forex trading scene. What were the major movers anyway?

Data from the U.S. economy came in mixed but the Greenback ended mostly lower against its forex counterparts. What’s that all about?

Risk aversion was the name of the game, so the safe-haven yen was in demand. Rallying commodities allowed some comdolls to just shrug off the gloomy risk sentiment, though.

Thanks to a bit of risk appetite and mixed economic data, the higher-yielding currencies locked in a couple of pips against their lower-yielding counterparts.

Downbeat economic figures weren’t enough to stop the Greenback from rallying against its forex peers in the U.S. session as risk aversion seemed to be in play then.

The pound was kicked lower during the session, thanks to the U.K.’s downgraded manufacturing PMI reading. Meanwhile, risk aversion was the dominant risk sentiment, so the safe-havens were in demand throughout the session, including the U.S. dollar.

Forex price action was a mixed bag of nuts, as today’s economic reports got mixed in with a bit of sentiment trading.

The main theme during the trading week was the yen’s total domination. As for secondary themes, we’ve got Kiwi strength and Greenback weakness.

Price action was a bit chaotic during today’s morning London session, but just like yesterday’s European session, the Swissy and the Kiwi were clearly in demand yet again.