Currency Analyst since 2010

Mar. 21: Asian session

Asian shares rose. The MSCI Asia Pacific excluding Japan Index advanced 0.3% after showing yesterday the biggest decline since August of 1.7%. US dollar is set for its biggest weekly advance in two months versus major peers before Dallas Federal Reserve President Richard Fisher speaks today amid prospects the central bank will pare stimulus.

USD/JPY is little changed in the 102.35 area. Japanese banks are closed for a holiday. Gold has recovered some ground from the yesterday’s low of $1320. Commodity currencies also remain supported. AUD/USD recovered from the yesterday’s low of $0.8997 to $0.9065. Australia CB leading index came below the forecast at 0.2% (forecast: +0.8%). Aussie holds above the $0.9000 support due to the market’s nervousness about the Ukraine tensions and China yuan’s tumbling. NZD/USD consolidates around $0.8540 after a dip to $0.8500 on Thursday.

EUR/USD opened at $1.3780 after it tested $1.3750 yesterday. GBP/USD is trading just above $1.6500. 

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