Asian session review: the dollar declined against most major currencies

During today's Asian trading, the US dollar fell against the euro and the pound, but rose against the yen. The focus of traders' attention this week is the two-day meeting of the US Federal Reserve System (Fed).

The Fed is expected to shed light on the future of the quantitative easing (QE) program. The Federal Reserve has been buying assets worth $120 billion a month since June 2020 under this program, and experts are waiting for clear signals from it about when the Fed intends to start winding it down. Many believe that the Fed may start reducing the monthly volume of asset repurchases as early as November.

Following the results of the meeting on September 21-22, the Federal Reserve will publish fresh forecasts for GDP, unemployment and inflation in the United States, as well as a dot plot  - a chart reflecting the individual expectations of members of the Fed Board of governors and heads of federal Reserve banks regarding interest rates.

Meanwhile, the Bank of Japan is expected to keep the parameters of monetary policy unchanged at the meeting to be held on September 21-22.

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 0.10%.