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- Asian session review: the US dollar rose slightly against most currencies
Asian session review: the US dollar rose slightly against most currencies
During today's Asian trading, the US dollar rose against the euro, the pound and the australian dollar, and was almost almost unchanged against the yen.
At the same time, the dollar index is near the three-month high reached last week amid continuing concerns about the spread of the coronavirus.
Positive statistics from the United States, including an unexpected increase in retail sales in June, contribute to the growth of optimism. The chairman of the US Federal Reserve System Jerome Powell made it clear last week that the Federal Reserve does not intend to rush to curtail incentives and still considers the increase in inflationary pressure in the country temporary.
The acceleration of inflation, according to him, is concentrated in a limited range of sectors, including cars, as well as air transportation. The dynamics of prices in the United States is "unique", and the leadership of the Federal Reserve is closely monitoring it to understand whether its opinion about a temporary acceleration of inflation is correct or inflationary pressure will persist for an extended period, Powell said.
The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose by 0.12%.
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