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18 Mar 2014
Session Recap: Dollar firmer but still rangebound
FXStreet (Córdoba) - The US dollar strengthened broadly with the main exception of the yen in classic risk-off pattern amid anxiety over Crimea and as investors remain cautious ahead of tomorrow's Fed decision.
The EUR/USD fell to a daily low of 1.3889 on the back of disappointing ZEW data, but quickly bounced back above 1.3900. The GBP/USD retested Friday's lows at the 1.6585 area before bouncing slightly. The yen is among best performers, with USD/JPY trading below 102.00 and EUR/JPY having hit a low of 140.73.
However, currencies linked to commodities are holding up pretty well with the NZD even accomplishing gains versus the USD, spoiling the overall risk-off impression.
During the New York session, the US will report CPI data for February and housing starts/permits at 12:30 GMT but investors' focus remains on FOMC decision, with most analyst expecting the Federal Reserve to stay on the tapering road.
Main Headlines in Europe:
Asia EM Express: Reports of another Chinese corporate default unsettle the markets
Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Putin notifies parliament to approve Crimea's accession to Russia
Germany: ZEW Survey – Economic Sentiment deteriorates considerably in March
German Constitutional Court upholds ruling from 2012 that ESM is legal
Putin's speech in parliament: From this moment Crimea is part of Russia
The EUR/USD fell to a daily low of 1.3889 on the back of disappointing ZEW data, but quickly bounced back above 1.3900. The GBP/USD retested Friday's lows at the 1.6585 area before bouncing slightly. The yen is among best performers, with USD/JPY trading below 102.00 and EUR/JPY having hit a low of 140.73.
However, currencies linked to commodities are holding up pretty well with the NZD even accomplishing gains versus the USD, spoiling the overall risk-off impression.
During the New York session, the US will report CPI data for February and housing starts/permits at 12:30 GMT but investors' focus remains on FOMC decision, with most analyst expecting the Federal Reserve to stay on the tapering road.
Main Headlines in Europe:
Asia EM Express: Reports of another Chinese corporate default unsettle the markets
Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Putin notifies parliament to approve Crimea's accession to Russia
Germany: ZEW Survey – Economic Sentiment deteriorates considerably in March
German Constitutional Court upholds ruling from 2012 that ESM is legal
Putin's speech in parliament: From this moment Crimea is part of Russia