Asian session review: the dollar declined against most of the world's major currencies

In today's Asian trading, the US dollar fell against most of the world's major currencies.

The ICE index, which tracks the dynamics of the US dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.3% in trading. In August, the indicator fell by 1.3%.

The US dollar rose sharply in March this year on the back of a significant increase in demand for safe haven assets, which was the first reaction of financial markets to the coronavirus pandemic. Since then, however, the value of the US currency has declined significantly and continues to fall due to continuing concerns about the prospects for the US economic recovery.

The Australian dollar rose 0.3% against the US dollar. The Reserve Bank of Australia on Tuesday confirmed the target yield of three-year government bonds at 0.25%, the base interest rate - at a record low of 0.25%. RBA Governor Philip Lowe said he expected rates to remain at an "exceptionally low level" for some time.

Meanwhile, the Purchasing managers ' index (PMI) for China's industrial sector, calculated by Caixin Media Co. and Markit, rose in August to the highest since January 2011 on the back of an increase in both domestic and external demand. The indicator increased to 53.1 points from 52.8 points a month earlier. Experts on average expected it to fall to 52.6 points.