Asian session review: the euro rose against the dollar and yen ahead of the ECB meeting

During today's Asian trading, the euro rose against the US dollar and the yen, while traders wait for the meeting of the European Central Bank (ECB), which will be held this week.

Experts note that the ECB has sufficient grounds to increase the volume of monetary stimulus, taking into account the renewed increase in the incidence of COVID-19 in Europe. They do not expect the European Central Bank to announce any major steps at the end of Thursday's meeting, but expect to hear from ECB chief Christine Lagarde some signals that a new stimulus will be adopted before the end of this year.

Analysts believe that in December, the ECB may increase by another 500 billion euros the volume of the emergency asset purchase program, which currently amounts to 1.35 trillion euros.

The Bank of Japan will also hold a meeting this week, the results of which will be announced on Thursday. Experts do not expect him to change the main parameters of monetary policy at the upcoming meeting.

The ICE index, which tracks the US dollar against six currencies (the euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.07%.