The Greenback continued on its descending route with the IN_USDJPY breaching well below 110 and EUR/USD hitting a new high since October 2015 at 1.1454. The Fed minutes largely confirmed that there will not be a rate rise in April, and little prospect for a hike in June.
The dollar basket is approaching the lower bound of its trading range, but a break will not be an easy one, as current prices already suggest no hike this year. The weaker dollar helps commodity prices and US equity markets to maintain ground, but momentum is clearly slowing. European markets like the DAX or the Euro Stoxx 50 remain in a bear trend, as they were unable to break above the 200 day moving average, and now moved out of their short term uptrending channel. The fairly tight Bollinger bands announce a period of high volatility still to come, however for European indices to correct substantially, it will have to start from the US.