Asian session review: the US dollar rose against most major currencies

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

The yen is also strengthening against most major Asian currencies as investors' interest in risk wanes. This is supported by renewed concerns about the second wave of coronavirus and uncertainty about the adoption of the next package of measures to support the US economy.

"Risk-sensitive Asian markets came under renewed pressure on Tuesday," said Jinyi Pan, market strategist at IG Markets.

The ICE index, which tracks the dynamics of the US dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.03%.

Traders appreciate the comments of the Chairman of the Fed Jerome Powell.

The head of the Fed said that economic measures taken in response to the coronavirus situation have eased the negative effects of the recession caused by the pandemic, but suggested that Congress will probably have to allocate additional funding to support parts of the economy that remain under pressure.

"Our economy will fully recover from this difficult period," Powell said in a speech prepared for a congressional hearing on Tuesday. The Fed will do what it can "for as long as it takes to ensure that the recovery is as active as possible and limit the long-term damage to the economy," Powell added.