Asian session review: the dollar rose against most major currencies

On Monday, the dollar rose against most major currencies as attempts by the United States and other countries to reopen their economies raised investors hopes for a rapid recovery in the global economy after a deep recession caused by the coronavirus crisis. California, Michigan and Ohio, three important states for manufacturing in the US, are taking steps to allow factories and some businesses to resume operations.

However, concerns about the spread of COVID-19 remain. US Vice President Mike Pence is being quarantined at the White house, representatives of the press service said on Sunday. He isolated himself after his employee tested positive for a new coronavirus. Officials in China have reported a new outbreak of infections in the North-Eastern province of Jilin, which is another cause for concern. And in Wuhan, five new cases of coronavirus infection were detected.

The British pound was almost unchanged against the dollar and euro after British Prime Minister Boris Johnson said on Sunday that he intended to gradually ease all restrictions due to the coronavirus.

The Australian dollar, which is often traded as a risk indicator due to its close ties to the Chinese economy and commodities, has recovered from an early fall.