The US dollar remained steady against the euro on Tuesday as investors awaited the European Central Bank (ECB) meeting and US job numbers this week.
The Dollar index, measuring the greenback against six peers, was marginally higher at 103.89, whilst the single currency was trading at $1.085 at the time of writing, having previously tested resistance around the $1.0867 mark, Reuters reports.
"Markets have kind of settled into an equilibrium, especially in the rates space," according to Alvin Tan, head of Asia FX strategy at RBC Capital Markets, in reference to high correlation levels in global bond markets.
"We'll need to see the data need to turn either way to really move the market. And of course in the short term there's quite a lot of 'event risk' this week."
The ECB's meeting is scheduled for Thursday where it is widely forecast to hold rates at 4%. Investors will be focused on any indications as to when easing may get underway.
Meanwhile, US employment data for February could significantly impact global markets on Friday. Economists anticipate a decline in hiring over the past month, but a larger-than-anticipated figure could add to the 2.5% increase in the Dollar so far this year.
In China, following the announcement Beijing would remain with the 5% economic growth target and a budget deficit of 3%, the spot Yuan opened at 7.1950 per Dollar and was later trading at 7.1994, whilst there was little change for the offshore Yuan at $7.2121.
Meanwhile, in Japan, the dollar was last trading at 150.37 yen, a fall of 0.1%, avoiding confronting resistance near the 150.85 mark, a level that has constrained its movement for over three months.
An upward breakthrough would pave the way towards November's peak at 151.92, but it also risks leading to Japanese intervention.
Elsewhere, the sterling pound fell 0.1% to $1.2674 ahead of the UK budget on Wednesday.