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The US dollar retreated as investors are eyeing the jobless claims and the uncover of Fed's stance

By Rana Gharib
30 Mar,2023
The US dollar retreated as investors are eyeing the jobless claims and the uncover of Fed's stance

The greenback slightly declined on Thursday, although volatility is restrained ahead of the weekly employment and quarterly growth reports, which may give hints about potential Federal Reserve stance in the future.

The dollar index which gauges the US dollar versus its major pairs dipped by 102.260 and gearing towards 2% slump for March.

Prior to the release of the core PCE price index, the Fed's preferred inflation measure, on Friday, information on weekly unemployment claims and preliminary fourth quarter growth figures will be released, offering additional hints about economic activity.

EUR/USD slumped by1.0839, after North Rhine-Westphalia, the most populous state in Germany, reported an increase in March's inflation rate of 0.6% on a monthly basis and 6.9% on an annual basis. This was a marked slowdown in growth from the 8.5% yearly increase in the previous month.

GBP/USD ticked up 0.2% to 1.2341.

USD/JPY plunged by 0.4% to 132.28, after suffering severe overnight drops, the safe-haven yen is making a comeback.

 

 

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