March Philly Fed News Today : Breaking News, Live Updates & Top Stories | Vimarsana

On FX market, the dollar is again locked in tight ranges, with a tentative negative bias. DXY eases to 104.12, EUR/USD ‘rises’ to 1.085. The yen fails to gain against the US currency despite strong verbal interventions from Japanese authorities of late. At USD/JPY 151.4 the multi-year top (weakest for the yen) remains dangerously close-by. Sterling underperforms, even as BoE’s Mann (admittedly one of the hawkish members within the MPC) says markets are pricing in too many rate cuts. EUR/GBP (0.8585) again nears first resistance (support for sterling) at 0.8600/02.

Australian shares are poised to open more than 1pc higher after the US central bank made clear the economy can cope with higher rates. $A advances 1.3pc.