Sentiment among German business leaders improved as the IFO Business Climate Index rose in March from 98.7 (seasonally adjusted) to 99.6 points.
Monday 25th March: Weekly technical outlook and review.
Sterling drew some comfort from the fact the EU granted an extension to the Article 50 negotiating period until April 12. In spite of an advancing dollar, the British pound retested 1.31 Friday as support and reclaimed 1.32+ status into the week’s end.
Friday 22nd March: Greenback regains Fed-induced losses; 96.50 potentially on the radar.
US dollar rebounded Thursday, reclaiming a large portion of Wednesday’s lost ground after the Federal Reserve jolted markets by abandoning all plans to raise interest rates this year.
Thursday 21st March: Sterling continues to be whipped around on Brexit headlines ahead of today’s BoE rate decision
The US Federal Reserve, as expected, kept interest rates unchanged at 2.25-2.50% Wednesday. The trajectory of rate hikes was also narrowed, with the central bank stating it will not hike interest rates this year amid a slowing economy.
Wednesday 20th March: FOMC takes centre stage; the central bank widely expected to keep policy unchanged.
Underpinned by a softer greenback, the EUR/USD extended gains for a third consecutive day Tuesday, up 0.13%. The buck is seemingly weaker on fears of a dovish Fed, with the central bank widely expected to keep policy unchanged today.