Asian session review: the US dollar rose against major world currencies

During today's Asian trading, the US dollar rose against the main world currencies.

The U.S. Dollar index, which shows the value of the US dollar against six major world currencies, rose 0.11% from the previous day.

Support for the US currency is provided by investors hopes for the recovery of the US economy after the crisis caused by the COVID-19 coronavirus pandemic, analysts say. At the same time, uncertainty around the new stimulus package in the US limits the growth of the dollar.

White house officials and representatives of Democrats in Congress on Monday signaled their readiness to resume negotiations on a new stimulus package after US President Donald Trump over the weekend signed executive orders to extend economic support measures bypassing Congress.

The head of the Federal reserve bank of Richmond, Thomas Barkin, on Tuesday warned that a recession of "historic proportions" could take an even worse turn if Washington does not accept another package of financial assistance to workers and companies affected by the coronavirus pandemic.

The New Zealand dollar fell against the US dollar. The Reserve Bank of New Zealand on Wednesday announced an expansion of its massive asset repurchase program to NZ $ 100 billion amid significant uncertainty in the current crisis. The regulator also left its key interest rate unchanged, at a record low of 0.25%, as expected.