Asian session review: the dollar rose against most currencies

During today's Asian trading, the US dollar rose moderately against the euro, but declined against the japanese yen.

Extremely loose monetary policy, combined with unprecedented government spending and the successful introduction of coronavirus vaccines, have fueled expectations of an accelerated economic recovery and the pace of inflation in the United States.

The improving economic outlook for the world's largest economy contrasts with the sluggish growth of the euro zone in 2021, where governments face rising COVID-19 infections and a slow vaccination campaign. According to analysts, this may provide an impetus for further growth of the dollar.

Federal Reserve Chairman Jerome Powell on Monday reiterated that the US economic recovery is far from over, despite recent improvements in indicators, and that the regulator plans to continue to provide support. "The recovery is moving faster than expected overall and appears to be gaining momentum, but it is far from over, so the Fed will continue to provide the necessary support to the economy for as long as it takes," Powell said.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose by 0.20%.