The greenback ended the day lower against the majority of its peers except versus yen on Wednesday. Commodity currencies rose across the board as rise in global stocks and easing of Omicron concerns triggered the return of risk appetite.(Dow Jones ended at 35,753, up by 261 points or 0.74%)  
  
Versus the Japanese yen, despite retreating to 113.96 in Australia, the dollar found renewed buying and rallied to 114.35 in early European morning. The pair then ratcheted higher to an intra-day high of 114.36 in New York morning on active cross-selling in yen before retreating to 114.08 near the close on broad-based usd's weakness.  
  
The single currency traded in a narrow range in Asia initially before retreating to 1.1265 ahead of European open. The pair then rose to session highs of 1.1342 in New York morning on broad-based usd's weakness on return of risk sentiment before retreating to 1.1320 and then traded sideways.   
  
Despite retreating to session lows of 1.3240 ahead of European open, the British pound found renewed buying there and rallied to 1.3324 ahead of NeW York open on cross-buying in sterling especially versus euro. The pair then ratcheted high to an intra-day high of 1.3363 near the close on usd's selling on return of risk sentiment.    
  
In another news, Reuters reported the European Central Bank calling an end to bond purchases would be a strong signal that an interest-rate raise is coming in the next two quarters, Governing Council member Robert Holzmann said on Wednesday."Normally if we say we do not need any more (bond) purchases because our inflation expectation is close to or above 2% in 2023 and 2024, then that would definitely be a strong signal that the interest rate will be increased in the following or the following two quarters," Holzmann told a news conference.  

Data to be released on Thursday:  

Japan coincident index, leading indicator, Germany import prices, Italy business confidence, consumer confidence, U.S. building permits, personal income, personal spending, core PCE price index, durable goods, durables ex-transport, durables ex-defense, initial jobless claims, continuing jobless claims, University of Michigan sentiment, new home sales, Canada GDP and average weekly earnings.

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