Asian session review: the US dollar rose against the euro and yen

During today's Asian trading, the US dollar strengthened against the euro and the yen. Waves of uncertainty in various markets, including stocks and oil, increase demand for safe haven assets, which continues to support the US currency, experts say.

A drop in the US equity market on Wednesday, a decline in manufacturing activity indices in the US and several other countries, as well as a continuing increase in the number of deaths from coronavirus in the US, support demand for the dollar and other assets considered the most reliable.

US President Donald Trump said earlier this week that the States will have to overcome "an agonizing two weeks" in the fight against the COVID-19 coronavirus infection before a trend of improvement can be seen. "I would like to hope that, as experts predict and as many of US predict, we will see the real light at the end of the tunnel, but this is preceded by a very, very painful two weeks," Trump said at a briefing on the coronavirus at the White house.

He noted that to improve the situation with coronavirus, it is necessary to adhere to the guidelines for combating COVID-19, calling compliance with these measures "a matter of life and death".

Meanwhile, according to the Institute for supply management (ISM), the index of business activity in the US manufacturing sector in March fell to 49.1 points from 50.1 points a month earlier. A drop in the index below 50 points indicates a decline in activity in the American industry in the context of the coronavirus pandemic.