EUR/USD (a 4-hour chart)
The U.S. dollar continued the weakening versus its major competitors. The EUR/USD was in consolidation near 38 figures the first part of the day. The Germany trade balance report for February was negative and chastened the “bulls”. The quotes fell down for a moment. The main event of the day was the last U.S. Federal Reserve meeting report. FOMC members expect that the inflation in the United States will be at a sufficiently low level for a long time, which does not allow the Federal Reserve to increase interest rates by 2015. In the lights of this we saw the euro growth versus its U.S. counterpart.
The GBP/USD has tested the new tops again on the background of moderately positive trade balance for February, as well as the Fed's leadership negative comments regarding the U.S. economic perspectives for the near future. Nevertheless, the British pound’s high rate will have a negative impact on the United Kingdom economy and in the lights of this the GBP/USD strong strengthening should not be expected.
The stabilization at the world's leading stock markets suspended the USD/JPY drop. The U.S. dollar price growth was restrained by the Fed's leadership negative tone regarding the prospects for the inflationary pressure over the next few years. As a result, the trading day for the pair USD/JPY ended with a symbolic increase in price by 0.15%.