Asian session review: the dollar has declined against major currencies, the pound is getting more expensive

During today's Asian trading, the US dollar fell against the main world currencies, while the british pound strengthened after the Bank of England meeting.

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

The traders are watching the ongoing negotiations in Washington about a new package of stimulus measures in pandemic coronavirus. The White House and democratic leaders in Congress have reported some progress in discussions, but differences remain over a number of issues.

Vice Chairman of the Federal Reserve Richard Clarida said on Tuesday that he expects the US economy to recover in the 2nd half of 2020. At the same time, in his opinion, activity can return to the levels that were observed before the beginning of the COVID-19 pandemic, until the end of 2021. He also noted that the Federal reserve is ready to change its lending programs to ensure effective support for the economy.

Meanwhile, the Bank of England kept its benchmark interest rate at 0.1% at the end of the August meeting. The Bank of England also decided to leave the volume of the government bond repurchase program at 745 billion pounds.

Meanwhile, the chinese yuan today retreated from a five-month high against the dollar, set the day before, amid signs of increasing tensions between the US and China.