The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against its six major peers, remains steady after registering gains in the previous session, trading around 103.60 during the Asian hours on Thursday.
The USD/CAD pair attracts some dip-buyers in the vicinity of mid-1.4300s during the Asian session on Thursday and reverses a part of the previous day's losses.
Gold price (XAU/USD) trades with a positive bias for the third consecutive day and climbs to over a two-week high, around the $2,942-2,943 region during the Asian session on Thursday.
Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday that the “underlying inflation is still somewhat below 2%.” Additional takeaways Expect underlying inflation to gradually accelerate as economy continues to recover.
Silver price (XAG/USD) continues its upward momentum for the third consecutive session, hovering around $33.30 per troy ounce during Asian trading hours on Thursday.
The Japanese Yen (JPY) edged higher against its American counterpart during the Asian session on Thursday and moves away from the weekly low touched the previous day.
Japanese Finance Minister Shunichi Kato said on Thursday that “Japan is still not in a state where we can permanently call an end to deflation.” Additional quotes Japan's economy in state of experiencing supply shortage, rather than lack of demand.
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1728 as compared to the previous day's fix of 7.1696.
EUR/USD bidders eased off the gas pedal on Wednesday, allowing Fiber to retreat around one-third of one percent and pushed bids back below the 1.0900 major price handle.
GBP/USD cycled near recent highs on Wednesday, building a base near the key 1.3000 handle as markets take a moment after US Consumer Price Index (CPI) inflation chilled even more than expected in February.
Bank of Japan officials see several reasons against intervening in the bond market even after benchmark yields hit the highest level since 2008, Bloomberg reported, citing people familiar with the matter.
The USD/CJF holds firm around the 0.8810 mark for the second consecutive day and clings to the 200-day Simple Moving Average (SMA) at 0.8813 after bouncing off yearly lows of 0.8757.
Silver price rallied to three-week highs as it cleared the $33.00 handle on Wednesday, posting gains of over 0.90%, unfazed by a jump in US Treasury bond yields and a strong US Dollar.
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