Asian session review: the dollar rose slightly against the euro, but declined against the yen

The US dollar is rising against the euro and slightly declining against the Japanese yen in trading on Wednesday.

News concerning the outbreak of pneumonia in China remains important for traders. The outbreak of pneumonia in the Chinese city of Wuhan began in mid-December 2019, the causative agent was a previously unknown coronavirus. According to the latest data, almost 6 thousand people were infected with it in China, and 132 people died. In addition, cases have been reported in a number of countries, including Thailand, Australia, Singapore, Japan, the United States, France, and Germany.

Investors are also waiting for the announcement of the results of the two-day meeting of the US Federal reserve (at 19: 00 GMT). According to forecasts, the fed will keep the interest rate in the range from 1.5% to 1.75% per annum.

Experts do not expect the Federal open market Committee (FOMC) to make a decision on changing the Treasury bill redemption program at the January meeting. However, some of them do not exclude that the fed will take a small step to test its relationship with the markets - it will raise the rate on excess Bank reserves (IOER) by 5 basis points to 1.6%.

The ICE Dollar index, which shows the value of the US dollar against six major world currencies, rose by 0.05% compared to the previous day.