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- Asian session review: the dollar rose against the euro and the yen after yesterday's decline
Asian session review: the dollar rose against the euro and the yen after yesterday's decline
During today's Asian trading, the US dollar rose against the euro and the yen after significantly weakening the day before on the back of an emergency interest rate cut by the Federal reserve.
The Fed reduced the interest rate by 0.5 percentage points to 1-1. 25% per annum. The last time the Fed made an emergency rate cut between scheduled meetings was during the 2008 financial crisis.
Experts expect an increase in the volatility of currency trading on the background of the ongoing us election campaign.
Information that former US Vice President Joe Biden is winning at least eight States in the democratic primaries on "Duper Tuesday", ahead of his main rival Bernie Sanders, pushed up us stock index futures and supported the dollar. "It is believed that Biden's position as a candidate for President of the United States, carries the least serious changes for financial markets, - said the chief investment officer of First American Trust, Jerry Braakman. "Sanders offers a lot of changes that markets don't always like."
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