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

During today's Asian trading, the dollar declined against the euro and rose against the yen on expectations of the publication of the minutes of the April meeting of the US Fed. Experts note that the minutes of the meeting may clarify the regulator's attitude to inflationary pressure and give signals about the timing of the beginning of the curtailment of stimulus measures.

The euro is supported, in particular, by the easing of quarantine measures in some European countries. In France, from Wednesday, non-essential goods stores, theaters, museums, terraces of bars and restaurants will resume their work.

In the first quarter, the dollar was supported by the beginning of a strong recovery in the US economy, while in other countries vaccination against coronavirus was slower, but this trend may now change.

The pound traded steadily against the dollar, despite the inflation data. Consumer prices in the UK rose by 1.5% in April compared to the same month last year. Thus, inflation accelerated compared to the March 0.7%. Analysts on average expected inflation to rise to 1.4%.

The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.04%.