Asian session review: the dollar changed slightly against the euro

During today's Asian trading, the US dollar was almost unchanged against the euro on the background of statements by the head of the US Federal reserve system Jerome Powell about the prospects of the us economy.

The ICE Dollar index, which shows the value of the US dollar against six major world currencies, fell by 0.09% compared to the previous trading day.

The unemployment rate in the US may rise to 25%, GDP may fall by 20-30% or even more in the second quarter due to the suspension of economic activity caused by the spread of the COVID-19 coronavirus, Jerome Powell warned on CBS.

Powell warned that the US "will take some time to fully return" to normal life and this "may stretch until the end of next year."

Meanwhile, the Japanese national currency slowly but steadily rose in price at the end of each month since the beginning of the year and became the only one among the 10 major currencies whose exchange rate increased. This was facilitated by the instability in world markets caused by the coronavirus outbreak, as well as the easing of the fed's monetary policy and the steps of the us regulator to increase the supply of the dollar.

Demand for the yen also supports concerns about increased tensions between the US and China. Experts note that as the us presidential election approaches, current President Donald trump may tighten his position on China.

Meanwhile, the pound rose slightly against the US dollar. British Finance Minister Rishi Sunak will answer questions from The house of Commons today. Last week, he announced an extension until October to support people forced to go on leave due to the COVID-19 epidemic. According to him, people who are forced to go on vacation will continue to receive 80% of the salary up to 2.5 thousand pounds.