The euro continues at lows

•  USD – JPY: The appreciation of the dollar against other currencies continues to depreciate the value of the Yen, leading the exchange rate to reach highs slightly above 122,00. On the other hand, Japan's Q4 GDP data, which was revised downward more than expected due to weaker domestic demand, supported the yen's weakness. This was further bolstered by comments from a government official who acknowledged that the yen's weakness is generally positive for the Japanese economy, as exporting companies benefit and companies with overseas production are beginning to bring their operations back to Japan. The yen's depreciation was limited by the somewhat more positive tone of the economic activity data for the beginning of 2015. Weekly Levels: Support 119/117; Resistance 123/125. Technically, the trend is Sideways-Upward (a break above 124 would change it to bullish).

Emerging:

• USD-BRL: Depreciating movement, influenced by continued domestic weakness and socio-political instabilityIn particular, inflation rebounded again in February, reaching nearly 8% year-on-year. On the political front, dozens of politicians will be investigated for their connection to the Petrobras corruption case. Meanwhile, the strength of the dollar has contributed to the depreciation of emerging market currencies.

• USD-MXN: The peso has depreciated, influenced by the renewed trend of dollar appreciation. In fact, the most significant depreciation occurred in just two trading days, coinciding with the release of positive economic data in the United States. In this context, Mexican authorities have strengthened their intervention mechanisms in the foreign exchange market to curb the depreciation trend.