The US dollar remained extremely weak on Thursday following the Federal Reserve’s quantitative easing announcement on Wednesday.

The Federal Reserve was easily the biggest source of volatility on Wednesday, and it wasn’t due to their rate decision.

The US dollar generally ended Tuesday down against the majors, though the currency did manage to eke out some gains versus the Japanese yen and British pound.

Looking ahead to Tuesday, signs of easing price pressures may continue to as the US Producer Price Index is forecasted to have risen a slight 0.4 percent in February.

The US dollar was the strongest currency when it came to the lowest yielding currencies, which now include the Swiss franc and Japanese yen, but the greenback fell versus the commodity dollar, euro, and British pound.

US dollar fell against nearly every major currency with the exception of the Japanese yen and Swiss franc.

US dollar price action was primarily responsible for much of what happened throughout the forex markets on Wednesday, as the Dollar Index finally broke below critical trendline support, suggesting the currency is officially turning lower.

Risk appetite was strong for much of the day, pushing the S&P 500 up 6.37 percent by the end of the day and weighing on the US dollar and Japanese yen on word that Citigroup was having its best quarter since posting a profit in 2007.

The US dollar benefited from jittery market sentiment on Monday, and with the Dollar Index holding above key support, the outlook for the currency remains bullish.

The US dollar pulled back sharply during European trading, but subsequently edged higher on flight-to-quality following news that US non-farm payrolls fell in line with expectations by 651,000 in February.