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

During today's Asian trading, the US dollar fell slightly against the major currencies. The focus of the market today is the August data on consumer prices in the United States. Inflation is expected to slow slightly - to 5.3% compared to 5.4% in July.

Traders are closely monitoring the inflation indicators, as they directly affect the plans of the Federal Reserve System (Fed) regarding the curtailment of anti-crisis measures to support the economy. Recent comments by Fed representatives suggest that the Fed intends to start reducing the volume of bond repurchases by the end of this year.

The Australian dollar fell 0.3% against the US dollar. The head of the Reserve Bank of Australia (RBA), Philip Lowe, said on Tuesday that a new outbreak of COVID-19 in the country and the quarantine measures introduced in this regard are likely to lead to a sharp reduction in the country's GDP in the 3rd quarter. The decline in Australian GDP in the current quarter will be at least 2%, and possibly even significantly more, Lowe 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), fell by 0.09%.