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- Asian session review: the US dollar declined against most major currencies
Asian session review: the US dollar declined against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 04:30 | Japan | Industrial Production (MoM) | December | -0.5% | -1.6% | -1% |
| 04:30 | Japan | Industrial Production (YoY) | December | -3.9% | -3.2% | -2.6% |
During today's Asian trading, the US dollar declined against the euro, but rose against the yen.
The ICE Dollar index, which shows the value of the US dollar against six major world currencies, fell by 0.16%.
In the absence of significant fundamental drivers, hopes for increased state support for the economy and continued vaccination in the world reduce investor interest in the dollar. In this regard, as well as against the background of expectations that the soft monetary policy of the US Federal Reserve System will continue in the near future, any trend towards the strengthening of the dollar can only be temporary.
Meanwhile, Japan's GDP in October-December increased for the second consecutive quarter, reflecting a recovery in both domestic demand and exports. The economy grew by 3% on a quarterly basis after climbing by 5.3% in the third quarter. Analysts had forecast a 2.3% rise.
The Australian dollar rose 0.33%. The first shipments of Pfizer's coronavirus vaccine arrived in Australia on Monday, Health Minister Greg Hunt said. The start of vaccination is scheduled for February 22.
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