Asian session review: the dollar traded steadily against the euro and yen

In today's Asian trading, the US dollar was almost unchanged against the euro and yen, but the pound rose after the publication of data on a smaller-than-forecast fall in the country's GDP in the 1st quarter.

The UK economy in the 1st quarter fell by 2% compared to the previous three months, according to preliminary data from the Office for National statistics (ONS). Relative to January-March 2019, the decrease was 1.6%. Analysts on average predicted a more significant fall - by 2.5% and 2.1%, respectively.

The ICE Dollar index, which shows the value of the us dollar against six major world currencies, rose 0.04% compared to the previous trading day.

Today, traders expect a speech by Federal reserve Chairman Jerome Powell, although Powell is unlikely to affect the regulator's plans for the monetary policy rate, since the next fed meeting will be held only in a month.

Investors have begun to speculate that the Fed may lower the interest rate below zero, following the Central banks of Europe and Japan. Last week, futures quotes for the Fed's benchmark interest rate indicated expectations of a negative rate at the beginning of next year.

Fed officials have long stated that they do not intend to copy the actions of their European and Japanese counterparts, and opposed the introduction of a negative interest rate.