After remaining in a lackluster performance with a gloomy reaction during the FOMC meeting, the US dollar was seen to have started to show a recovery in several recent trading sessions.
The market digested the statement delivered by Federal Reserve (Fed) Chairman Jerome Powell who was seen in no hurry to lower interest rates in the near future following the announcement of the rate being maintained at 4.50%.
Powell calmed the market by stating that the United States (US) economy is still moving well, the job market remains strong.
This was seen to reduce some concerns after the latest NFP employment report came in with a gloomy reading and the inflation rate is still 'sticky' to reach the central bank's target.
However, analysts maintained a cautious warning for current trading of the US dollar which is still shrouded in the issue of the tariff war, triggering continued uncertainty in the market.
In addition to the FOMC, also in focus on Thursday were the results of the Swiss and English central bank meetings with interest rate announcements that both met expectations.
The Swiss National Bank (SNB) cut interest rates by 25 basis points from 0.50% to the latest 0.25%.
Meanwhile, the Bank of England (BOE) kept interest rates unchanged at 4.50% with a change in the MPC members' vote.
Compared to the previous majority vote, 8 voted for interest rates to be maintained and 1 voted for interest rates to be cut.
Both currencies did not show significant movement with the US dollar being more driven.
Significant price range movement was seen in the Aussie dollar trading starting from the Asian session yesterday following the Australian jobs report with a worrying reading.
The economy lost 52,800 jobs in February, far missing expectations for an increase of 30,800. Meanwhile, the unemployment rate remained at 4.1%.
The market's focus at the close of this week will be on Canadian retail sales data to be published in the New York session with gloomy figures forecast for January.
