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

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

Traders are assessing the results of the Fed meeting and waiting for the final results of the us presidential election. According to the latest data, democratic candidate Joe Biden is ahead of Trump, gaining 264 electoral College votes out of the necessary 270 with 214 votes for Trump.

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%.

Recall that the Fed kept the interest rate in the range from 0% to 0.25% per annum at the end of the meeting on November 4-5, as expected. The US Central Bank confirmed that it is ready to use all the tools at its disposal to support the US economy.

Federal reserve chief Jerome Powell said the outlook for the US economy remains "extremely uncertain" in the face of the coronavirus pandemic, and noted a slight slowdown in the pace of economic recovery in recent months. Several times during the speech, Powell called on Congress to pass a new stimulus package.

Meanwhile, the likelihood of a major stimulus package in the United States is fading, as hopes that Democrats will gain control of both houses of Congress do not materialize. Republicans are likely to retain control of the Senate, while Democrats will retain control of the House of representatives. Thus, regardless of who becomes President, it will be difficult for him to adopt a new package of incentive measures.