XE Market Analysis: Asia – Mar 16, 2021

The Dollar was softer in early morning trade, weighed down some by a weak February retail sales report, and a big miss in February industrial production. The DXY bottomed at 91.68, though later recovered to one-week highs of 92.03. The bounce in the index was largely due to an underperforming Euro. The USD stayed lower versus the GBP, JPY, and CAD. FX trade is liable to slow some into Wednesday’s FOMC announcement and press conference. The focus will be on the new views on the recovery and of course policy as reflected in the SEP and dot plot.