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- Asian session review: the dollar fell slightly against most currencies
Asian session review: the dollar fell slightly against most currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:00 | New Zealand | ANZ Business Confidence | May | -2.0 | 7.0 | |
| 06:00 | Germany | Factory Orders s.a. (MoM) | March | 1.4% | 1.7% | 3% |
During today's Asian trading, the US dollar declined against the euro and the yen, and was almost unchanged against the pound.
The US dollar index is near a two-week high after US Treasury Secretary Janet Yellen said on Tuesday that the Federal Reserve may have to raise interest rates to avoid overheating the US economy. Later, Yellen noted that she is not trying to make forecasts about the Fed's policy, nor to make recommendations to the Fed.
John Hardy, chief currency strategist at Saxo Bank, notes that interest rate expectations in the market on Tuesday after Yellen's statement almost did not move - the market expects a Fed rate hike sometime at the end of the third or fourth quarter of next year.
The pound is stable against the dollar and the euro. Traders are waiting for the results of the Bank of England meeting, which will be announced on Thursday at 11:00 GMT. Analysts do not predict changes in the parameters of the monetary policy of the Bank of England. At the same time, the Bank of England is expected to improve its economic forecast.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.11%.
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