Forex today: Dollar loses conviction after Wednesday's bull run

Forex today saw the Dollar in a mixed bag, down slightly against major trading pairs after Wednesday's run-up in the Dollar Index (DXY), boosted by capital flows heading into the end of the first quarter for 2017.

Mixed Dollar as the greenback runs out of gas

The Euro traded largely flat against the US Dollar and any attempts to post gains on the day were erased by drops in the EUR following a miss for German CPI figures, coming in underneath the expected figures. The EUR/USD managed to make a session high of 1.2335 before dropping into 1.2284, and the pair is now heading into Easter long weekend trading around the 1.2300 major handle. The Sterling was noticeably weaker on the day's action, falling to 1.4010 from the day's high of 1.4096, and the pair is still trading on the backfoot, near 1.4020. The Yen managed to gain a little bit of ground against the US Dollar, dragging the USD/JPY pair back to 106.26 ahead of the Tokyo CPI data release.

The Aussie and the Canadian Loonie managed to eke out gains against the Greenback as well, bolstered by commodity prices in the pre-holiday markets, with the AUD/USD heading into Thursday's action near 0.7680 and the USD/CAD trading into 1.2885 after declining from a high of 1.2937.

Holidays promise thin volumes as majority of markets go dark

The data offering for Friday's action is a light affair, with the AUD, NZD, GBP, USD, and CAD-related markets all taking the day for Easter long weekend, and Tokyo will be going into the Asia session alone with Consumer Price Index info in the barrel.

Key notes from Wednesday's session

US indexes close the week with gains, post a second consecutive monthly decline

US: Growth likely slowed to less than 2% in Q1 - NBF

Gold struggles near weekly lows, seems vulnerable