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The dollar fell against almost every other G10 currency last week ahead of this Wednesday’s Federal Reserve meeting.

UK retail sales surged higher in March, while the ECB held fire and offered little new information during its press conference on Thursday.

This Thursday’s meeting of the European Central Bank is expected to be uneventful for the FX market, but will be closely watched by investors nonetheless.

The dollar fell against just about every other currency last week, despite a string of impressive macroeconomic data out of the US economy.

While the sell-off in Eastern European currencies was not quite as dramatic as other regions in 2020, the moves lower witnessed in the region was of a magnitude unseen in years. Read our latest FX Forecast Report of the European Market. Focus on: CZK, HUF, PLN and RON.

The euro continued to hold its own against the US dollar on Tuesday morning, despite growing fears over the third wave of virus infection in Europe.

An easing in US bond yields weighed on the dollar last week, while optimism over the EU’s vaccine rollout buoyed the common currency.

We are delighted to share our latest achievements in @Bloomberg’s forecast rankings for Q1 2021, including being the #1 krona forecaster in Q1.

The FOMC struck a dovish tone in its meeting minutes on Wednesday, despite the impressive growth rebound witnessed in the US economy.

Emerging market currencies have rallied against a broadly weaker dollar in the past week, despite rising Treasury yields and a barrage of positive economic news out of the US.