Bullish Dollar Not So Dominate In the Asian session

The US dollar regain bullish since last night after release US economic data were better than expected. Initial jobless claims per March 21 recorded a number of 282 000 versus expectations 290 000. from previous 291 000. While Services PMI index for the month of March was at 58.6 higher than the expected 57.0.

Nevertheless strengthening of US Dollar on Friday (27/03) these days is not so strong, and looks to be headed for weekly declines. Since last week's FOMC monetary policy reveals a dovish suggestive, US dollar bulls crashed, however, economic data released over the night before, became an injection of energy for pushing up yields of US government bond yields in the medium level.

Dollar index climbed to 97 397, bouncing up from 96 170 level. Against the yen, US dollar rally to 119.28 yen, from a low level one month at 118.33. EUR / USD interested retreat towards 1.0876 from 1.10525, failing to remain at the top position of $ 1.1000 for the fourth time in the last two weeks.

Analysts at BNP Paribas wrote predictions to CNBC, where the inability of the EUR / USD to test positions above $ 1.10 in accordance with their expectations that market participants in the long-term orientation tend to sell currency at better levels.In their opinion, real rate is declining at this time is likely to maintain Eurozone and Japanese investors focus on selling their currencies into condition that rally and we expect US Dollar will take advantage of this.

Source : www.tradingeconomics.com

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