The Federal Reserve's (Fed) March 2026 Beige Book, based on data collected through February 23, showed mixed economic conditions. Seven of twelve districts reported slight to moderate growth, but the number of flat or declining districts rose from four to five.
The US Dollar (USD) eased on Wednesday after a two-day rally drove the US Dollar Index (DXY) near the 100.00 mark. The Greenback ignored the positive employment data and ISM Services PMI as the ongoing war between the US and Iran weights on sentiment.
The US Dollar Index (DXY) slipped about 0.18% on Wednesday, settling close to 98.90 after retreating from the 99.68 high printed on Tuesday.
NZD/USD jumps about 0.73% on Wednesday, rallying sharply to around 0.5940 at the time of writing in a session that saw the New Zealand Dollar (NZD) top the currency heatmap against every major counterpart.
USD/CHF retreats on Wednesday, down by 0.25% as the pair failed to post a daily close above the 50-day Simple Moving Average (SMA) of 0.7819. The Greenback trimmed some of its Wednesday’s gains on risk aversion.