Asian session review: USD depreciates as risk appetite improves amid growing U.S. stimulus hopes

USD fell against most major counterparts in the Asian session on Thursday as risk appetite improved amid growing hopes that U.S. lawmakers would reach a compromise on a new stimulus package. 

The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, increased  0.13% to 93.76.

White House chief of staff Mark Meadows said that U.S. President Donald Trump's administration had extended the proposal for more than $1.5 trillion in stimulus. The announcement came after the House of Representatives delayed the vote on a $2.2 trillion relief package designed by House Democrats on Wednesday evening after House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to strike a coronavirus aid deal but said the talks would continue.

In addition, the latest set of U.S. macro reports restored investor confidence in economic recovery prospects. A report from ADP revealed that private sector employment in the U.S. increased more than expected in September, while NAR's data showed that pending home sales in the U.S. climbed to a record high in August.