Page 18 - Urrencies News Today

The yen fell more than 1% against the dollar following the conclusion of the central bank’s meeting Tuesday, and is now set for a second weekly drop.

The Australian Dollar printed back-to-back negative days during the week against the US Dollar, courtesy of a warm inflation report in the United States (US) that justified the Federal Reserve’s stance to be patient in cutting borrowing costs.

The EUR/USD pair continues with its struggle to gain any meaningful traction on Wednesday and oscillates in a narrow trading band below the 100-hour Simple Moving Average (SMA) during the Asian session.

Inflation in the US accelerated, not only in terms of monthly headline figure but everywhere, both core and headline, and both yearly and monthly figures came in hotter-than-expected.

Here is what you need to know on Wednesday, March 13: The US Dollar (USD) is having a tough time gathering recovery momentum early Wednesday.

EUR/USD came within a touching distance of 1.0900 in the early American session on Tuesday but managed to erase its daily losses.

The US Dollar Index (DXY) exchanges hands at 102.80, recording mild losses.

The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.0963 as compared to the previous day's fix of 7.0969 and 7.1885 Reuters estimates.

Overview: The US CPI has become one of the most important high-frequency economic reports for the capital markets.

The Greenback extended its auspicious start of the week after US inflation figures came in hotter than expected, reinforcing further the investors’ repricing of a June rate reduction by the Federal Reserve.