The US dollar was extending strength in the Asian trade. The yen was traded in a muted mode because of the national holiday in Japan, Vernal Equinox Day. Besides, the USD/JPY pair was not able to drop below 106.00 as traders are sitting on the sidelines of the policy meeting of the Federal Reserve. Experts say that traders are more interested to find a clue the number of interest rate increases, scheduled for 2018. In case Fed policy makers do not signal 4 rate hikes this year, investors will shift focus back to Japan's national currency. Meanwhile, market participants are absorbing macroeconomic statistics. Experts from the Melbourne University released a report on leading economic indicators in Australia. The index climbed 0.3% in February from a 0.3% decline in the previous month. The fresh reading has shown the sharpest rise since December 2015.
The recent data suggest prospects of stronger momentum in the domestic economy in the first half of the year. Amid the positive sentiment, the Australian dollar made a minor upward correction against its American rival. The currency pair is trading slightly below 0.7700. The USD/RUB pair is gradually going down and is now trading at 57.50. The Russian currency is showing resilience thanks to a steady rally of oil prices, tax filing period in Russia, and expectations of robust retail sales. On Friday, the Board of Russia's central bank is due to take a decision on the key interest rate. According to the consensus, the Board is likely to keep the key rate at the same level of 7.50%. Such expectations provide the ruble with extra support.