The release of existing home sales lent the US dollar a solid boost in morning trade as the figure jumped a significantly stronger-than-expected 3.9 percent in February - the sharpest rise in three years - to 6.69M from 6.44M.
The previous sentiment to higher inflationary pressures and further rate hikes seems to have dissipated as policy makers are potentially looking towards a more dovish outlook.
The Fed dropped language of "additional firming" from today's accompanying FOMC statement, which the market took as a sign of a clear bias shift away from rate increases, and possibly even dropping rates as early as this summer.
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