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USD muted after Fed’s Beige Book

The greenback keeps the upbeat tone after the Fed’s Beige Book, that eventually proved to be a non-event, as markets remain focused on tomorrow’s ECB and BoE monthly gatherings and Friday’s NFP. The US Dollar Index is holding gains in the proximity of 82.50 while the single currency and the sterling are attempting a tepid bounce around 1.2995 and 1.5035 against the buck, respectively, although submerged well into the red territory. The Aussie dollar extends its correction from session tops in the vicinity of 1.0300, orbiting around 1.0230/35 as of writing.

The Beige Book highlighted once more that the US economy is growing at a moderate to modest pace, mainly propped up by the housing sector. In the same tone, the consumer spending grew in the majority of the districts, led by important discounts by retailers.

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Fed's Beige Book sees modest improvements in labor market conditions

Economic activity has continued to expand in at a "modest to moderate" pace since the previous Beige Book, which was released in mid-January, while the "majority" of Districts reported modest improvements in labor market conditions.
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