Can the USD Rise Again Before the Close of Trading?


 The US dollar again showed little demand during the European session by trying to erase the losses recorded in the previous session.

The NATO summit in Brussels enters its second day with more sanctions to be announced by US President Joe Biden and his European allies against Russia.

Earlier, Biden had expressed his opinion that Russia should be removed from the G20 as one of the efforts to increase pressure on President Vladimir Putin.

The Aussie and New Zealand dollars remained stable at 4-month highs despite a slight decline in the European session, where they traded at around 0.7500 and 0.6950 against the USD, respectively.

Both currencies have been gaining ground this week as investors appear to be sidelining geopolitical and economic uncertainties to the detriment of the U.S. dollar as a safe-haven.

Meanwhile, the euro struggled to find support after being frustrated by Ifo’s Ifo survey’s German business climate index readings were slightly lower than expected in February.

The pound continued to lose momentum to post gains with a lower decline after seeing an unexpected fall in UK retail sales data in February.