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    Forex:  Euro Rose to 1.1330 on Extended Buying, Dollar Fell on Fed's Yellen Dovish Statement

    EURUSD: (Mar 30 Wed) The euro made extended gains against the lower dollar High 1.1333 Low 1.1292 ( 41 pips) and held firm above 1.1300  in the morning session of Europe. The dovish statement yesterday from the US Fed Chief Janet Yellen with an emphasis on data dependence and a clear message that interest rates will be raised at a cautious pace. Yellen said: "The dollar can't appreciate further. That ould depress inflation and exports and hurt US manufacturing. Commodity prices need to stabilize. Inflation is a two-sided risk and we are watching it closely. Foreign economies and their financial markets need to stailize." The euro rose sharply yesterday in NY from 1.1200  to 1.1300. Stock markets welcomed the news. German Dax 1.67% , Euro Stoxx 1.55% as of 11:00 GMT.

    GBPUSD: FTSE The pound also made extended gains vesus the US dollar and rose to 1.4450 from 1.4370 ( 80 pips) in Europe. However, the gains at the top were quickly met with profit taking and sellers with the risk of Brexit still intact. The selling also came from modest EURGBP buying H 0.7871 L 0.7833 ( 38 pips).Firm prices of commodities and stocks helped. FTSE is  1.63% to 6205.65.

    USDJPY: The japanese yen gains as the dollar fell from the dovish statement yesterday from the Fed Chief Yellen. US Treas bond yields are lower. Dollar yen fell from 113.42 in NY yesterday with steady selling to the the intraday low in Europe at 112.00. Nikkei closed lower -1.31% to 16,878.96. China's CSI 300 2.58% to 3216.28. Resistance at 112.50, 112.80. Support at 11.40, 111.20.

    USDCHF: In the same token, the US dollar fell sharply against the swiss franc from 0.9745 yesterday in NY to the intraday low of 0.9328 following the dollar bearish comments from the Fed Chief Yellen on the slower and cautious pace of raising US interest rates. Resistance is clearly met at 0.9670. The dollar is sold once again in Europe to 0.9632 with month-end swiss buying interest. 


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