Forex Today: King Dollar keeps advancing
|What you need to know on Thursday, March 25:
The American dollar continued to advance on Wednesday, with EUR/USD reaching a fresh 2021 low of 1.1811, despite upbeat European data. The pound also fell, trading as low as 1.3673 intraday.
Business activity in March surprised on the upside in the EU, according to Markit preliminary estimates. PMIs from other economies also indicated a better economic shape in the mentioned month, although UK inflation unexpectedly shrank in February.
Asian equities closed dip in the red, reflecting the dismal market mood. However, European and US indexes ended the day mixed, somehow shrugging off the negative sentiment. Nevertheless, the greenback retained its strength.
Commodities recovered unevenly. Gold posted a modest advance, settling at $1,735 a troy ounce. Crude oil prices were firmly higher, with WTI ending the day at $ 60.80 a barrel. Among commodity-linked currencies, the aussie was the weakest, while the loonie was the strongest.
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