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

During today's Asian trading, the US dollar fell against the euro and the yen.

Japan's consumer price growth accelerated to 0.3% year-on-year in July, compared with 0.1% in the previous month, the Ministry of internal Affairs and communications said. This is the highest rate of recovery since March, mainly due to rising food prices.

The ICE Dollar index, which shows the value of the US dollar against six major world currencies, fell by 0.13% compared to the previous day.

Data from the US labor Department yesterday showed an unexpected increase in the number of new applications for unemployment benefits in the week ending August 15, to 1.106 million.

Meanwhile, the pound rose 0.2% against the dollar. The volume of retail sales in the UK in July 2020 increased by 3.6% compared to the previous month, according to data from the National statistics office. In annual terms, sales increased by 1.4%. Analysts on average predicted growth of the first indicator by 2% and maintaining the second at last year's level.

The Chinese yuan also rose against the dollar. The People's Bank of China (PBOC) on Friday poured 200 billion yuan into the banking system through reverse REPO operations. The PBOC offered the market 150 billion yuan in 7-day operations and 50 billion yuan in 14-day operations. The rates for these operations are 2.2% and 2.35%, respectively.