USD finds support as fears of a banking crisis subside

The dollar found support in Asian markets on Wednesday, as investors cut their expectations about cutting interest rates in the United States after easing fears of a banking crisis and the release of data showing that inflation remains high.

In early trading, the wave of selling the dollar, which lasted for two sessions, subsided, and the US currency rose about 0.2 percent against both the euro and the yen, recording 132.52 yen and 1.0729 dollars against the single European currency.

US consumer prices rose strongly in February, keeping pressure on the Federal Reserve to contain rising prices.

Sterling, which increased about 1 percent during the week, settled at $1.2149. The New Zealand dollar fell 0.2% to $0.6225, while the Australian dollar, which has increased 1.5% since the beginning of the week, settled at $0.6682.