Dollar Ekes Out Modest Rebound

Currency performance is being influenced by credit spreads as the U.S. dollar managed to reclaim some lost ground against a basket of currencies. However, recent central bank chatter caused the yen to inch upward and the euro’s strength to endure.

This morning’s European session followed another night of mixed fortunes in Asia, particularly in Japan where the Nikkei closed down -300pts at 14,300 on the back of more yen strength. Over the last four sessions, the Nikkei has managed to shed nearly -900pts. Following last Friday’s benign nonfarm payrolls print, bourses stateside have firmed, holding above key double-bottom support levels. Later today, the Federal Open Market Committee’s March minutes will be released though investors should expect few surprises as currencies remain confined to a tight trading range.

Dollar Ekes Out Modest Rebound

#CentralBank, #BasketOfCurrencies, #CreditSpreads