Currency Analyst since 2010

US dollar weaked versus other majors

US dollar eased down versus its main counterparts on Wednesday. However, the greenback is still generally back at the levels where it traded before American weak Non-Farm Payrolls report on Friday which reduced the odds of an earlier Federal Reserve’s rate hike.

EUR/USD recovered from 1.0800. GBP/USD recovered from 1.4800 to 1.4860.

USD/JPY once again stepped into resistance on approach to 120.50 and slid to 119.70. The Bank of Japan left its monetary policy unchanged. Still, as the central bank has failed to reach its 2% inflation target, there are still expectations of further monetary easing in Japan. According to nation’s finance ministry, Japanese investors were net buyers of foreign stocks and bonds for the third straight month in March.

AUD/USD rose once again approaching resistance at 0.7700.

The main event of the day is the release of the FOMC meeting minutes at 18:00 GMT.

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