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- Asian session review: the yen rose on the back of stronger demand for safe assets
Asian session review: the yen rose on the back of stronger demand for safe assets
The US dollar traded steadily against the euro and declined against the yen, but rose against Asian currencies.
Demand for safe haven assets is growing as strict restrictions imposed earlier to curb the spread of COVID-19 coronavirus infection are gradually easing around the world. Markets are afraid of a second wave of pandemics as a result of the beginning of the lifting of restrictive measures.
A warning signal was the situation in South Korea: after the recent cancellation of strict social distancing measures, the government of the country reported a new jump in coronavirus infections and declared the need to be prepared for the second wave of the pandemic.
Traders will closely monitor whether the decline in the number of cases continues after the increase in population mobility, experts say.
The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.06%.
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