Forexlive Americas FX news wrap: USD strongest currency of the day
The US broke a two day losing streak as the weakest major currency on the planet by becoming the strongest major currency instead. However, don't stand on the bar, nor shout from the highest mountain. The gains were minimal (see the changes vs. the major currencies in the chart below).
The day had little US economic catalyst. The University of Michigan Sentiment index for March was released and it came out weaker than expectations at 90.0 vs. 92.2 est. It was also lower than last months 91.7 reading. Both current conditions and expectations were weaker at 105.6 vs 106.8 est. (last was also at 106.8 for current conditions) and 80.0 vs 82.5 est. (last was 81.9 for expectations). The weaker readings did not have a lasting impact.
