Market wrap: US dollar supported on bullish US data - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: Strong US data helped the US dollar and interest rates rise, although those moves were retraced after the FOMC disappointed those hoping for a March-hike signal.

Interest rates: US 10yr treasury yields initially rose after the strong data outturns, from 2.46% to 2.51%, but fell after the FOMC statement to 2.47%. 2yr yields similarly rose from 1.21% to 1.26% before fully retracing.

Currencies:  The US dollar index is slightly higher. EUR fell from the 1.0800 area to 1.0732 before the FOMC. USD/JPY rose from 113.00 to 113.93 before retracing post-FOMC. AUD ranged sideways between 0.7550 and 0.7597. Underperformer NZD extended its jobs data-related decline to 0.7243 before the FOMC helped it jump back to the 0.7280 area. AUD/NZD ground higher from 1.0400 to 1.0440."