Asian session review: the US dollar was trading steadily against the euro and yen

The US dollar was almost unchanged against the euro and japanese yen on Tuesday, the australian dollar rose after the results of the Reserve Bank of Australia meeting.

As expected, the Reserve Bank of Australia did not change the key parameters of monetary policy at the end of the meeting on Tuesday. The RBA kept the key interest rate at a record low of 0.25% per annum, and the target yield of three-year government bonds at 0.25%. The Australian Central Bank expects the country's GDP to fall by about 10% in the first half of 2020 and by about 6% for the entire year. At the same time, the economy is likely to grow by 6% next year.

Traders continue to fear the growing contradictions between the US and China. These fears were provoked yesterday by information that Washington is considering raising duties on Chinese goods as one of the measures to hold Beijing accountable for late informing the world public about the appearance of the COVID-19 coronavirus infection.

The ICE Dollar index, which shows the value of the us dollar against six major world currencies, fell by 0.08% compared to the previous day.