Pip Diddy

The Greenback gave back a couple more pips to its higher-yielding counterparts, as positive risk sentiment dominated the Asian forex trading session.

With U.S. traders out on a Memorial Day holiday, forex market participants had a bit of profit-taking going on during the New York session.

Today’s a Monday and the U.K. market was closed for the day, so volatility wasn’t all that great during the morning London session. Most currency pairs were trading sideways, but there was some noticeable directional movement from pound and Greenback pairs.

Asian session forex traders caught up to the dollar frenzy from last Friday, as they priced in a Fed rate hike and a strong session for the U.S. equities.

All eyes and ears were on Fed head Janet Yellen, as her remarks were responsible for dictating dollar price action on Friday’s New York session.

The pound continued to dominate its forex rivals, but the Loonie was in strong demand as well. The Kiwi, meanwhile, was the worst-performing currency of the week. So, what was driving forex price action?

There was nothing major on the docket, but there are top-tier U.S. events lined up for later, so volatility got sapped during today’s morning London session. Oil continued sliding, though, dragging the Loonie with it.

Forex price action saw tight ranges across the board, as a lack of economic reports convinced traders to stay in the sidelines ahead of major U.S. events.

All green! Economic data from the U.S. came in mostly stronger than expected, but the Greenback failed to take advantage of it. Here’s why.

The pound got slapped lower across the board during today’s morning London session, thanks to a bunch of disappointing economic reports. Meanwhile, the comdolls got a bullish boost due to another round of rallying commodity prices.