US Dollar Index trading steady above 200-day simple moving average ahead of US GDP data, which is set to be released at 12:30 GMT.
US dollar hits fresh year high on Wednesday against a basket of most major currencies following the comments from Treasury Secretary Yellen and Federal Reserve Chair Jerome Powell.
The US Existing home sales fell 6.6% in February to a seasonally adjusted annual rate of 6.22 million. Moving ahead to the North American session, the US new home sales data are set to be released later in the day. Analysts expect a reading of 875,000 compared to January’s 923,000.
The People's Bank of China (PBoC) left its benchmark interest rates unchanged, as widely expected. The one-year loan prime rate (LPR) was left unchanged at 3.85%, while the five-year remained at 4.65%.
Crude oil prices recent sell-off fuelled by a slowdown in the European vaccine rollout and a “third wave” of COVID-19 is being witnessed by Germany, Italy, and France.