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- Asian session review: the US dollar fell against the euro and yen
Asian session review: the US dollar fell against the euro and yen
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Japan | Manufacturing PMI | March | 47.8 | 44.8 | |
| 00:30 | Japan | Nikkei Services PMI | March | 46.8 | 32.7 | |
| 05:00 | Japan | Leading Economic Index | January | 91.0 | 90.3 | 90.5 |
| 05:00 | Japan | Coincident Index | January | 94.4 | 94.7 | 95.2 |
During today's Asian trading, the US dollar fell against the euro, the yen, and the currencies of Asian emerging markets on the background of the actions of the Federal reserve system, which announced large-scale quantitative easing.
The Fed announced yesterday that it will buy back government bonds on a virtually unlimited scale, as well as launch a number of new business lending programs. The measures taken by the Fed, as expected in the Central Bank, "will support a wide range of markets and institutions, thereby supporting the flow of loans to the economy."
The Fed also promised that it "will continue to use the full range of tools to maintain the flow of credit to households and companies."
The Fed's willingness to do almost everything possible to mitigate the negative effects of the coronavirus pandemic on the American economy has led to a significant increase in investor interest in risk. In addition, the Fed's swap lines with a number of Central banks in other countries ensure the availability of dollars abroad, experts say .
The ICE index, which tracks the dollar's performance against six currencies (the euro, swiss franc, yen, canadian dollar, pound and swedish krona), fell 0.95%.
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