Major currencies gained strength to rise again in today's trading session, thus showing the US dollar to be limping back.
At the start of the European session, the risk-sensitive currencies of the Aussie and New Zealand dollars returned higher to erase losses recorded earlier.
Meanwhile, the US dollar declined again after showing recovery in Wednesday's trading session.
Efforts for the currency king to bounce back from lows appear to have failed as sentiment towards riskier assets continues to flow in the market.
Investors are now awaiting the release of final readings of gross domestic product (GDP) data for the fourth quarter of 2022 and US jobless claims that could potentially affect the giant currency.
Meanwhile in Europe, the euro continued to rise ahead of the release of German inflation data which is expected to drop to 7.5% in March.
In addition, the pound currency also recorded a rebound, showing it trading at a 2-month high against the greenback.
The Canadian dollar continued to strengthen higher to reach a new 5-week high against the US dollar.
The yen continued to depreciate as investors continued to abandon safe-havens amid more positive market sentiment.
Even with the gains in major currencies, investors remain wary of volatile volatility heading into the end of March trading and the first quarter of 2023.
