Forex Today: Market sentiment remains biased towards the Dollar

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The Greenback maintained its constructive stance and extended the consolidative mood around the upper end of the recent range, all against the backdrop of small retracements in risk-associated assets.

Around USD/JPY, concerns over potential FX intervention remained on the rise as spot neared the 152.00 barrier. Here is what you need to know on Thursday, March 28: Extra gains kept the Greenback on the positive foot and lifted the USD Index to the vicinity of 104.50. On March 28, the final Q4 GDP Growth Rate is due, seconded by the usual weekly Initial Jobless Claims, Pending Home Sales, and the final print of the Michigan Consumer Sentiment.

Mann, the annualized Car Production results, and the final GDP Growth Rate figures are all due on March 28. USD/JPY rose to a new YTD high within the boundaries of 152.00 before returning to the red zone. In the domestic calendar, the BoJ Summary of Opinions and the weekly Foreign Bond Investment figures are expected on March 28. AUD/USD accelerated its losses and approached the key 0.6500 zone amidst further upside in the Greenback and the poor performance of the commodity complex.

 

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