The dollar index rose 0.097% to 102.73, following a 0.19% increase last night. However, the index is on track to record a 2% decline for March due to market turmoil stemming from issues in the banking sector. Currency analyst at OCBC in Singapore, Christopher Wong, confirmed that broader risk appetite continues as fears of contagion between banks diminish, and increased interest in Chinese stocks is noted.
Analyst Tina Ting at CMC Markets pointed out that "the market is now focusing on U.S. personal consumption expenditures due later this week, which are viewed as the Federal Reserve's preferred inflation indicator."
The euro fell 0.13% to $1.0829, but is set to finish the month with a 2% gain. The British pound was last traded at $1.2297, down 0.11%, after a 0.2% decline on Wednesday.
The Japanese yen rose 0.05% to 132.77 per dollar, after a 1.5% drop last night. The currency is experiencing volatility ahead of Japan's fiscal year-end tomorrow.
The Australian dollar decreased 0.21% to $0.667, while the New Zealand dollar fell 0.22% to $0.621.
