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- Asian session review: the dollar rose against the euro, but fell against the yen
Asian session review: the dollar rose against the euro, but fell against the yen
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 05:45 | Switzerland | SECO Economic Forecasts |
During today's Asian trading, the US dollar rose moderately against the euro and declined against the yen.
Traders continue to monitor the progress of discussions on a new package of measures to support the US economy. On Friday, the White house nearly doubled the size of its offer to $1.8 trillion. Over the weekend, however, both House Democrats and Senate Republicans opposed the proposal. According to the speaker of the lower house of the US Congress, Nancy Pelosi, this proposal is "not enough to meet the needs of families."
On Sunday, US Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows, in a letter to members of Congress, called for legislation to distribute the balance of funds allocated under the Paycheck Protection Program, which covers business payroll expenses.
The dollar rose significantly against the chinese yuan. On Saturday, the People's Bank of China (PBOC) announced the cancellation of mandatory reserves for certain currency transactions from Monday.
The ICE index, which tracks the dynamics of the US dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.03%.
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