
The dollar index (DXY00) on Wednesday rose slightly on quarter-end demand for the dollar. Also, dovish ECB comments on Wednesday undercut the euro and boosted the dollar. Meanwhile, 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.
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%.