
The dollar index (DXY00) this morning is up by +0.09%. Dovish ECB comments today undercut the euro and gave the dollar a boost. Gains in the dollar are limited after the yen recovered from a 33-year low and moved higher on speculation that Japanese authorities may soon intervene in currency markets to support the yen after Japan's Ministry of Finance, Bank of Japan, and Financial Services Agency held an unscheduled meeting today.
US weekly MBA mortgage applications fell -0.7% in the week ended March 22. The refinancing mortgage sub-index fell -1.6%, and the purchase mortgage sub-index fell -0.2%. The average 30-year fixed rate mortgage fell -4 bp to 6.93% from 6.97%.