Asian session review: the dollar stabilized against the euro, but rose against the yen

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

"The euro is now above $1.2, which could be a headache for the European Central Bank, given the near - zero inflation in the Euro area," said CMC Markets analyst Michael Hewson.

Democratic majority leader in the U.S. House of representatives Steny Hoyer said Wednesday that he hopes to reach a deal on new budget incentives this weekend.

A day earlier, a group of congressmen from both parties proposed a new $908 billion stimulus package. On Wednesday, House speaker Nancy Pelosi and Senate democratic minority leader Chuck Schumer urged McConnell to use the proposal as a basis for negotiations.

The pound rose against the dollar. On the eve of the pound fell against the dollar and the euro after the EU's chief negotiator Michel Barnier said that he was not sure whether he could reach an agreement between the UK and the EU on future relations.

"The pound has fallen from its highest level in three months after recent Brexit - related events revived doubts about the ability of the UK and the EU to reach a trade agreement," said Joe Manimbo of Western Union.

The ICE index, which tracks the dollar's performance against six currencies (the euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.2%.