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Bank of Japan (BoJ) Governor Kazuo Ueda is addressing the press conference, explaining the reason behind leaving the key interest rate unchanged at 0.75% in the March policy meeting.

Commerzbank’s Michael Pfister argues that, with Swiss inflation low and the 2022/2023 shock unlikely to repeat, the SNB is now more worried about a strong franc than inflation. Market pricing implies almost one hike by year-end, but the bank may prioritize FX stability.

The United Kingdom (UK) ILO Unemployment Rate remains steady at 5.2 in the three months ending in January, while it was expected to rises to 5.3%, the Office for National Statistics (ONS) reported.

Danske Bank analysts expect the Sweden's central bank, Riksbank to leave its policy rate unchanged at 1.75% today with a cautious wait-and-see communication and no major changes to the near-term rate path.

Wells Fargo analyzes the March FOMC decision, noting the Federal Reserve kept the fed funds rate at 3.50%-3.75% and avoided signaling timing for future moves.

The USD/CAD pair trades on a softer note near 1.3730 during the early European session on Thursday. Surging oil prices due to escalating Middle East tensions provide some support to the commodity-linked Loonie against the US Dollar (USD).

The AUD/USD pair edges higher during the Asian session on Thursday and reverses a part of the previous day's retracement slide from the weekly high.

The Bank of Japan (BoJ) announced on Thursday to hold the short-term interest rate steady at 0.75% after concluding its two-day monetary policy review meeting.

The Japanese Yen (JPY) faces selling pressure against the US Dollar (USD) after the Bank of Japan (BoJ) decided to leave interest rates unchanged at 0.75%. Still, the USD/JPY pair is 0.14% down to near 159.70 as the US Dollar underperforms its peers.

Silver (XAG/USD) edges higher after showing some resilience below the $75.00 psychological mark and, for now, seems to have snapped a two-day losing streak to a one-month low, touched the previous day.