Asian session review: the dollar rose against most currencies

During today's Asian trading, the US dollar strengthened against the euro, pound and yen, and was almost unchanged against the australian dollar.

Traders took a wait-and-see attitude ahead of the release of May data on consumer prices in the United States, which the Ministry of Labor will release on Thursday. They will look for clues about whether the post-pandemic economic recovery will trigger price pressures and pose a threat to loose monetary policy.

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 0.13%.

US Treasury Secretary Janet Yellen said on Sunday that US President Joe Biden, in her opinion, should pursue the implementation of his proposed programs to support the economy totaling $4 trillion, even if this will increase inflationary pressures and increase interest rates in the country.

As for the data, the experts ' forecast provides for an acceleration of inflation in the US in May to 4.7%. In April, consumer prices rose 4.2%, the fastest pace in 12 years.

With inflation concerns still on the minds of investors, the data is likely to be a key event for markets this week, IG analysts said.