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Further reduction of bets on an interest rate cut by the Fed in March propelled the USD Index (DXY) to a new yearly high and aligned with the extra narrative suggesting the ECB could wait until the summer to trim its rates, which eventually appears to have bolstered the late bounce in the single currency.
Gold price (XAU/USD) regains positive traction on Thursday and reverses a major part of the previous day's downfall amid the underlying bearish sentiment surrounding the US Dollar (USD).
The EUR/USD pair attracts some dip-buying during the Asian session on Thursday and reverses a part of the previous day's retracement slide from the weekly top.