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

In today's Asian trading, the US dollar rose against the euro and the Japanese yen.

The ICE Dollar index, which shows the value of the US dollar against six major world currencies, rose 0.18% from the previous day.

The US economy is experiencing a period of" extreme uncertainty", especially in connection with the ongoing attempts to limit the spread of the coronavirus, noted in a speech by Jerome Powell, head of the US Federal Reserve, prepared to address the financial services committee of the US House of Representatives.

Powell noted the importance of curbing the rate of spread of the coronavirus against the backdrop of the recovery of the US economy after the most significant fall in decades.

"We have entered an important new phase and have done so earlier than expected," reported in the text of Powell's speech. "While we welcome this surge in economic activity, it also presents us with new challenges, particularly the need to contain the virus."

The UK economy in the 1st quarter fell by 2.2% compared to the previous three months, according to final data from the Office for National statistics (ONS). This is the highest decrease since the third quarter of 1979. Relative to January-March 2019, the drop in GDP was 1.7%. Previously, it was announced that the first indicator would be reduced by 2% and the second by 1.6%. Analysts did not expect a revision of both indicators.