Asian session review: the dollar declined slightly against the major currencies

During today's Asian trading, the US dollar showed slight fluctuations against the euro, being near the maximum in 2 months, and also changed slightly against the Japanese yen.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.09%.

The recent rally in the dollar is likely to be short-term, CBA experts say, noting that progress in the implementation of vaccination in the United States gives grounds for optimism about the medium-term outlook for the global economy.

According to the US Centers for Disease Control and Prevention (CDC), more than 26 million people had received at least one dose of the COVID-19 vaccine in the country by Monday, and about 6 million had received two doses of the drug.

According to the New York Times, just over 139,000 new infections were reported in the country on Monday. Thus, the daily increase in new cases is reduced. Last week, it averaged 146.4 thousand per day, which is 29% lower than the average of the previous week.

The Australian dollar rose 0.25% against the US dollar. Reserve Bank of Australia (RBA) Governor Philip Lowe said the Australian economy will need a significant amount of monetary policy support over the next few years, with the base rate remaining near zero until at least 2024 amid the coronavirus pandemic.