USD drops 1% from February high

Тhe dollar relinquished all of its gains for the week, following Treasury yields lower as the greenback extended Wednesday retreats from key levels.
The Bloomberg dollar index was down 0.3 percent on the day, though declines stretched to a full 1 percent from the Wednesday peak that was the highest this month, adding an air of drama to the move. Dollar-yen dropped to near 113.00 after rising to within four pips of 115.00 in the prior session, a reflection of sensitivity to fluctuations in Treasury yields.
The dollar fell despite robust economic data, including Philadelphia Fed business outlook at highest since 1984, and further comments from Federal Reserve officials that signaled another rate hike is in the cards soon; market pricing around 38% odds for a March rate hike, up from around 30% at start of the week.
EUR/USD rose to a fresh high 1.0679, stalling ahead of 1.0685 where a large option expiry is set to roll off Friday, bringing associated supply; EUR based Wednesday near 1.0500 where a layer of bids and technical support cushioned the drop.
EUR may find interim support near 1.0600 where another large expiry is set to expire Friday

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