Asian session review: the US dollar rose against the euro and the yen

The US dollar was slightly higher against the euro and yen in today's Asian trading.

"This reversal was not unexpected, given the mixed data for the euro area," said BK Asset Management analyst Kathy lien.

Data from the EU statistics Office on Tuesday showed a 0.2% year-on-year decline in consumer prices in August. Experts on average predicted growth of 0.2%. In addition, unemployment in the 19 countries of the Euro zone in July 2020 increased to 7.9% - the highest level since November 2018.

Retail sales in Germany in July 2020 decreased by 0.9% compared to the previous month, according to data from the country's Federal statistical Agency (Destatis). Analysts had expected an increase of 0.5%.

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), rose by 0.05%.

The index of business activity in the US manufacturing sector in August 2020 rose to the highest since November 2018 and exceeded analysts ' expectations, the Institute for supply management (ISM) said on Tuesday.

The Australian dollar fell by 0.25% against the US dollar. The Australian economy in the 2nd quarter fell by 7% compared to the 1st quarter, according to data from the Bureau of statistics of the country. The decline in GDP was observed for the second quarter in a row, for the previous 3 months it was 0.3%. Thus, the Australian economy entered a recession for the first time in 30 years.