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- Asian session review: the US dollar rose against the yen and euro
Asian session review: the US dollar rose against the yen and euro
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Australia | House Price Index (QoQ) | Quarter IV | 2.4% | 3.9% | 3.9% |
| 00:30 | Australia | RBA Meeting's Minutes | ||||
| 04:30 | Japan | Industrial Production (MoM) | January | 1.2% | 0.8% | 1% |
| 04:30 | Japan | Industrial Production (YoY) | January | -3.1% | -2.5% | -2.3% |
In today's Asian trading, the US dollar rose against the yen and euro. The ICE Dollar index, which shows the value of the us dollar against six major world currencies, rose 0.3% from the previous day.
The day before, the yen against the dollar jumped by more than 1.5% after the emergency decision of the Federal reserve system to reduce the base interest rate to zero. Investor demand for safe haven assets increased as the Fed's measures failed to allay concerns about the COVID-19 coronavirus outbreak.
The Fed on Monday night lowered the interest rate by a full percentage point to 0-0. 25%, announced plans for additional purchases of government bonds worth $ 500 billion and mortgage-backed securities worth $ 200 billion, as well as additional measures to provide liquidity to commercial banks. The Fed called on banks to increase lending from existing reserves. The Fed said it is ready to use "the full range of tools available to it to support the availability of credit for households and businesses."
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