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The euro exchange rate against the dollar rose sharply , reaching highs while the current month. Experts say that the chances of implementation of the European Central Bank QE any measures gradually reduced , allowing the single currency gain growth momentum and achieve a level of $ 1.3800 . ECB representatives downplay his comments probability QE in the region , as risk appetite increased after the events of last week.
In addition, market participants expect publication of the minutes of the meeting of the Federal Reserve in March . Such data will be able to exert significant pressure on the dynamics of market prices. Recall that in the course of the meeting it was decided to decrease the volume of the quantitative easing program in the amount of $ 10 billion for the third consecutive time. Thus, the monthly amount of redemption will be now about 55 billion dollars. Moving at a pace further regulator can completely abandon the loose monetary policy in the autumn of this year. Most analysts hoped to see the outcome of the meeting in a more precise allusions to the program deadlines . In addition, they want to know when will increase the base interest rate . At the moment, there are suggestions that the rate increase from the current level of 0-0.25 % will begin no earlier than mid- 2015.
The British pound rose sharply against the dollar , supported by strong data on industrial production . In the UK, industrial production rose more than expected in February , which was due to higher contribution from oil and gas production . According to the data , industrial production grew by 0.9 percent in February from a month ago , when it remained unchanged. Growth rate much higher than the February 0.3 percent expected growth . Manufacturing output rose 1 percent, which was faster than the growth of 0.3 percent , which is seen in January. Economists forecast that production will grow by 0.3 percent again in February . Annual industrial production growth slowed slightly to 2.7 percent in February from 2.8 percent in January. But the pace of growth exceeded economists forecast 2.2 percent . Meanwhile, manufacturing output grew at a faster pace of 3.8 per cent per annum , after rising 3.2 percent the previous month. Annual production growth is expected to slow slightly to 3.1 percent .
The yen rose against the dollar after the Bank of Japan on the basis of ending today a 2-day meeting did not change the course of monetary policy , keeping the volume of lending programs and asset purchases unchanged. Analysts also expect changes , despite the increase in the consumption tax in Japan on April 1. CB confirmed target expansion of the monetary base in the range of 60 to 70 trillion yen ( $ 681 billion ) a year. Last month, the head Haruhiko Kuroda said that the chances of seeing remain high next year inflation in the central bank's target level of 2%.
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