Pip Diddy

Ho-hum. It was a slow day for the major currencies, as the lack of economic releases coincided with cautiousness ahead of this week’s central bank events.

Forex price action in the New York trading session wasn’t as exciting as the latest Game of Thrones episode since dollar pairs seem to be waiting for any FOMC plot twists.

Volatility and directional movement were in short supply during the morning London session, with most currency pairs bound in tight ranges. It wasn’t a complete snooze fest, however, since the pound, the Swissy, and the Greenback were clearly on the move.

Australia and New Zealand are on banking holidays today, but that didn’t stop Asian session forex traders from getting pips across the board.

Yen pairs soared across the forex charts, as traders were eager to price in their expectations for additional BOJ easing, while the Greenback stayed supported by risk-off flows.

The trading week has come and gone. And this week, yen weakness was the main theme, although we’ve also got pound and Loonie strength, as well as Swissy weakness as secondary themes. So, what was driving forex price action this week?

It was a topsy-turvy day for the major currencies, as forex traders extended the U.S. session themes and priced in changes in oil prices.

The Greenback chalked up back-to-back winning days, as risk aversion extended its stay on weaker oil prices. Here’s how it all went down.

The ECB maintained its monetary policy, but volatility remained subdued as forex traders waited for the ECB press conference. That didn’t stop the euro from climbing higher, though.

A pretty mixed trading session for the major currencies, as a lack of forex catalysts turned investor attention to commodities and equities flows.