USD/JPY

The dollar rose broadly on Thursday, recovering some losses made the previous day against higher-yielding currencies as investors covered short dollar positions. The euro tumbled broadly after a newswire report saying that Greece is not hopeful of receiving aid from other euro zone members. A Greek official quoted in the report said the country was growing increasingly pessimistic about the prospect of help at a European Union summit on March 25 and may seek IMF aid during the April 2-4 Easter weekend. Euro selling was sparked after the report and dropped as far as $1.3657, down 0.5 percent, from a five-week high of $1.3819 the previous day. The euro was struggling as other euro zone nations have yet to give concrete details on how they would help Greece resolve its financial woes. Against the yen, the dollar was unable to make gains versus the lowyielding Japanese yen, trading with losses of around 0.2 percent to 90.10 yen as concern of escalating trade tension between the US and China regarding China's yuan policies.

Forecast:

Market players will closely watch on US consumer inflation readings for February on Thursday. Expected range: 89.50 - 90.30

USD/IDR

The pair was opened at 9120 level, and traded in narrow range between 9120-9135 level. The pair was dragged to 9135 level in the day, after a report said Greece is not hopeful of aid from the March 25 European Union summit. Besides that, investors still continued to eye growing friction between China and the US and other Western powers who are pressing Beijing to allow the yuan currency to rise. Market closed at 9123. In addition, the finance ministry explains that Indonesia aims to raise 5 trillion rupiah ($ 549.1 million) from an auction of government debt paper on March 23. The proceeds will be used to help plug the budget deficit this year, which is forecast at 2.1 percent of gross domestic product (GDP) and to repay maturing bonds.