The Sterling remained mostly unchanged against other major currencies, with exception against the US Dollar and the New Zealand Dollar.
Notwithstanding quite depressed US Dollar in the wake of dovish remarks made by the Fed Chair Janet Yellen yesterday, oil prices failed to sustain their price increases and finished the second trading session of this week with a dip of 2.8%.
Chair of the US Federal Reserve created the vast part of volatility on Tuesday, as she told the Economic Club of New York that the regulator should maintain a cautious stance in terms of adjusting monetary policy and raising interest rates.
The Pound's performance at the beginning of the week was more than good, as it managed to outperform all other major currencies.
The US Dollar suffered losses against most major peers on Monday, mainly due to a poor reading of Personal Spending and Core PCE Price Index.
Natural gas prices spiked the most among major commodities on March 28, not least due to the fact that this component was the only one to receive influential side-effect news.
Traders were somewhat disappointed by the only major data release on Monday, the first trading day of this week. US consumer spending ticked up by 0.1% in February, against an expectation of +0.2%.
Due to a better-than-expected US GDP figures on Friday, the US Dollar managed to outperform all other major currencies, retaining its strength even over the weekend.
The Sterling's performance on Friday and over the weekend was mixed, with the Pound mainly appreciating against commodity-based currencies.
Commodity market registered a mixed development on March 24, but the majority of components included in Dukascopy daily review kept declining amid broadly uplifted US Dollar.
Currency market remained resilient to any flows of fundamental data on Thursday, with focus being on the next week already due to Easter holidays.
Despite mixed US fundamental data on Thursday, the Greenback managed to post gains against most major currencies, with exception against the British Pound.
Due to positive UK Retail Sales data, the British Pound appreciated against all other major currencies on Thursday.
Commodity market registered a mixed development on March 24, but the majority of components included in Dukascopy daily review kept declining amid broadly uplifted US Dollar.
Currency market remained resilient to any flows of fundamental data on Thursday, with focus being on the next week already due to Easter holidays.
The US Dollar strengthened significantly on Wednesday, boosted by hawkish FOMC member Bullard's statement, as well as strong Oil Inventories figures and New Home Sales.
The Sterling's performance was poor for another day, however, it still managed to appreciate against commodity-based currencies yesterday.
All commodities without any exception took a massive hit to their prices on Wednesday, owing to much heavier and confident US currency.
Plunging oil prices, that have lost value after a depressing US weekly reserves report, used to have a negative direct impact on all commodity-dependent currencies.
The American Dollar experienced mixed performance over the day, as it appreciated against some major peers, but declined against the others.
The British currency declined against all of other major peers on Tuesday, amid the terrorist attacks in Brussels bringing more fear of a ‘Brexit'.
A considerable advance in natural gas prices on Tuesday followed the most significant (among major commodities) drop on Monday.
The Pound Sterling took the biggest hit against the Euro and other currencies on Tuesday. An immediate negative reaction, which totaled 0.92% versus EUR, was a result of increased Brexit worries in the aftermath of attacks in Brussels.
The Greenback's performance was opposite to the Sterling's, as it appreciated against most major currencies on Monday.