Asian session review: the dollar rose against most currencies

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

U.S. economic activity grew at a moderate pace from early April to late May, slightly faster than earlier this year, the Fed's Beige Book reported on Wednesday. Respondents in several of the country's twelve regions noted the positive impact on the economy of COVID-19 vaccination and the easing of social distancing measures, while noting the negative effects of supply chain disruptions.

The president of the Federal Reserve Bank of Philadelphia, Patrick Harker, said yesterday that it was time to think about the timing of the winding down of the Fed's asset purchase program. "I think we should slowly, carefully reduce the volume of repurchases at the appropriate time," Harker said.

Investors are waiting for the statistical data on the US labor market, which will be released on Friday. They will allow you to get an idea of the process of labor market recovery and possible further steps of the Federal Reserve. Economists predict that the number of jobs in the US economy increased by 674 thousand in May, compared with 266 thousand in April.

The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.18%.