The Greenback managed to maintain its multi-session constructive bias well and sound and propel the USD Index (DXY) back above 104.00, albeit ephemerally.
The Greenback managed to maintain its multi-session constructive bias well and sound and propel the USD Index back above 104.00, albeit ephemerally. Sustaining the rally in the Dollar emerged the sharp depreciation of the Japanese yen in the wake of the well-telegraphed rate hike by the BoJ, while it will be all about the Federal Reserve on March 20. Here is what you need to know on Wednesday, March 20: Further gains saw the USD Index advance to three-week highs past the 104.
GBP/USD managed to reverse the earlier pullback to the 1.2670 zone and reclaim the area beyond 1.2700 the figure towards the end of the NA session. The UK docket will see the Inflation Rate on March 20. USD/JPY climbed markedly and traded just pips away from the key 151.00 mark, or 2024 highs, as the selling pressure around the yen picked up strongly following the BoJ rate hike. AUD/USD extended its leg lower for the fourth session in a row and approached the key support at the 0.
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