Asian session review: the US dollar continued its growth against major currencies

During today's Asian trading, the US dollar rose against major currencies in terms of market volatility.

At a certain point in trading, the euro began to rise against the dollar on the announcement of the launch of the European Central Bank (ECB) of an unprecedented 750 billion Euro bond purchase program, under which both government and corporate securities will be purchased. The program, called the Pandemic Emergency Purchase program, is intended to support financial markets and stabilize the public debt market in southern Europe, which has come under heavy pressure in recent days.

Meanwhile, the US Senate is beginning to study the White house's proposal to allocate $1 trillion to support the economy, including direct assistance to American households and financial assistance to airlines. It is assumed that the money (the amount of $1000 per person is being discussed) will be allocated to citizens in two stages - in early April and mid-may, the amount of assistance will depend on income and family size.

The ICE Dollar index, which shows the value of the dollar against six major world currencies, is up 0.10%.

The Australian dollar fell about 2% against the US dollar by more than 2%. The reserve Bank of Australia cut its benchmark interest rate for the second time this month to support the country's economy in the face of the spread of the coronavirus. The rate was reduced by 25 basis points to a record low of 0.25% per annum.