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

During today's Asian trading, the euro rose against the US dollar before the European Central Bank (ECB) meeting.

Most experts and analysts expect that the ECB will not change the parameters of monetary policy at the October meeting, but will signal its readiness to increase the amount of stimulus in December.

Economists and investors want to get a signal from ECB President Christine Lagarde that the regulator is almost guaranteed to take additional support measures before the end of this year, and will probably be disappointed if they do not receive such a signal.

Meanwhile, the Bank of Japan maintained its previous monetary policy parameters following a two-day meeting that ended on Thursday. The short-term interest rate on deposits of commercial banks in the Central Bank is left at -0.1% per annum, the target yield of ten-year government bonds of Japan is about zero.

At the same time, the Bank of Japan lowered its forecast for the country's GDP decline for the current fiscal year ending in March 2021 to 5.5% from the previously expected 4.7%, which is mainly due to a slower-than-expected recovery in demand for services. Japan's GDP growth forecast for the next fiscal year was raised by the Central Bank to 3.6% from 3.3% expected in July.

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 0.01%