Forex Market Update : Epic Research Singapore

The dollar logged its worst quarterly performance in years as the Federal Reserve slowed the expected pace of interest rate hikes, citing worries about the potential domestic im
pact of anemic growth abroad.

The ICE U.S. Dollar index DXY, +0.06% a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.3% Thursday to 94.5610. Its quarterly performance clocked in at a 4.2% loss.

In Thursday’s session, the bigger moves occurred against the euro, with the dollar EURUSD, -0.0967%  dropping to $1.1389 late Thursday in New York, compared with $1.1339 late Wednesday in New York. The shared currency briefly touched $1.1415, its highest level since October.

The U.S. dollar USDJPY, -0.37%  turned higher against the Japanese yen, rising to ¥112.50 late Thursday in New York, from ¥112.36 late Wednesday in New York, after the often volatile Chicago PMI came in at 53.6 for March, up from 47.6 in February.

In other trading, the British pound GBPUSD, -0.1323%  weakened 2.5% against the dollar over the course of the quarter as worries about a possible U.K. exit from the European Union weighed on demand. The British currency traded at $1.4380 late Thursday in New York, little-changed from its late-Wednesday level.

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