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- Asian session review: the US dollar rose against most major currencies
Asian session review: the US dollar rose against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 06:45 | France | Industrial Production, m/m | May | -20.6% | 15.1% | 19.6% |
During today's Asian trading, the US dollar rose against the euro and declined against the yen as investors withdrew from risky assets due to the increase in the number of new cases of COVID-19 coronavirus infection in a number of countries around the world.
The ICE Dollar index, which shows the value of the dollar against six major world currencies, rose by 0.21% relative to the previous trading day.
Demand for safe haven assets is rising again as the number of confirmed COVID-19 cases around the world continues to grow, undermining confidence in the near-term recovery of the economy.
According to the latest data, more than 60,000 new cases of COVID-19 have been reported in the US, which is the largest one-day figure among all countries affected by the pandemic so far. All this happened due to the fact that many american citizens returned to a normal lifestyle and began to massively go out to public places. Of course, all these facts undermine the chances of rapid growth and recovery of the American economy.
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