Asia Open
US weighs easing Venezuela oil sanctions to boost supply amid global disruptions
EMERGING ASIA
The U.S. continues to find ways to ease strain in the oil market, latest being "Trump weighs easing Venezuela oil sanctions to boost supply amid global disruptions". While it cannot replace the physical disruption in Strait of Hormuz, the gesture is keeping a lid on oil price. Nothing much to kick start the Asia session.
USD/CNH is trading 0.03% higher at 6.8839.
European and North American sessions
In a generally subdued session with the Wednesday FOMC decision approaching, the USD saw modest losses, with oil slightly firmer and early gains for equities fading. EUR/USD recovered from a dip below 1.15 to get close to 1.1550 while USD/JPY slipped from near 159.50 to 159. EUR/GBP and EUR/CHF had little direction. AUD/USD advanced from .7060 to .71, but USD/CAD was little changed near 1.37. There was little US data, though February pending home sales rose by 1.8%, slightly stronger than expected.