Even though the general tendency for the pair was southwards on Wednesday, GBP/USD failed to make a notable advance in this direction.
The Euro managed to remain near 1.24 during the Asian session early on Wednesday, thus trying to gain enough strength to surpass the weekly R1 at 1.2412.
Bulls continue their dominance over the NZD/USD pair. The currency pair bounced off the lower boundary of a channel up on March 1 and has since maintained a dominant ascending pattern.
The Greenback strengthened against the Loonie following a Canadian fundamental event, which occurred yesterday. Namely, immediately as the Governor of the Bank of Canada started to speak, the Canadian Dollar began to lose value.
The Australian Dollar introduced no significant changes to its overall price range against the US Dollar on Wednesday as its remained stable.
The common European currency was stable against the Japanese Yen during the first part of Wednesday's, as it was supported by the 55-hour simple moving average.
Gold was driven by bears early on Tuesday who pushed the yellow metal down to the upper boundary of the breached wedge pattern and the 38.20% Fibo near 1,316.70.
Despite showing high volatility on Tuesday, USD/JPY had returned near the 106.40 mark by Wednesday morning.
The market was calm on Tuesday morning, as traders were awaiting the British Annual Budget report and the US inflation data.
The first part of Tuesday's trading session was uneventful, as the Euro was fluctuating in a narrow range against the US Dollar.
Following a short period of decline during the previous session, the New Zealand Dollar has managed to regain some of its lost positions on Tuesday. Gains, however, were limited due to the upper boundary of a dominance channel.
The Buck has maintained its gradual movement northwards. By mid-Tuesday its gained 60 basis points against the Canadian Dollar.
The Australian Dollar continues its smooth journey in an ascending channel against the Greenback. The currency pair breached the monthly pivot point at 0.7863 during the middle of the US trading session yesterday.
The Euro has managed to regain some of its lost positions during the first part of Tuesday's trading session. The decline of the currency pair was stopped by the weekly pivot point at 130.94.
Following two sessions of decline, the yellow metal has allayed its bearish sentiment.
Minor downside risks dominated the USD/JPY exchange rate on Monday, as it closed the session with a 60-pip fall.
As previously expected, the Pound continues moving closer to a downward-sloping trend-line located near the 1.3910 mark for the third consecutive session.
The Euro was fluctuating in the 1.2343/1.2260 range on Tuesday, thus continuing its general movement sideways which began following weak US employment data last Friday.
The bearish momentum continued to dominate the USD/CAD pair. However, during the middle of European session on Monday, the rate made some correctional movement north.
The New Zealand Dollar continues to be gaining strength against the US Dollar. The currency pair ended Friday with a high at 0.7306. The rate has been moving in a systematic way since the beginning of March.
The AUD/USD pair continues to be maintaining its movements in the previously described channel up. The currency pair has breached the monthly pivot point during the early hours of Monday's trading session.
The common European currency is gradually depreciating against the Japanese Yen. The currency pair has moved closer to the border of a dominant channel and is likely to go for breakout.
As apparent on the chart, the yellow metal was trading along the breached one-month channel during the first part of Friday.
Following a breakout of the descending channel early on Friday, the US Dollar entered a minor period of consolidation against the Yen.