Asian session review: the dollar traded stable against the euro

During today's Asian trading, the US dollar consolidated against the euro and rose against the yen. However, 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), is declining amid growing risk appetite on news about coronavirus vaccines and the beginning of the transfer of power in the US.

Earlier, CNN reported that the General services Administration (GSA) of the United States has established that Joe Biden is the winner of the presidential election. According to a letter from GSA chief Emily Murphy, the White house is ready to officially begin the process of transferring power.

In addition, according to media reports, Joe Biden plans to nominate former Fed chair Janet Yellen for the post of Treasury Secretary. "The long - term consequences of Yellen's nomination are definitely negative for the US dollar," said John Hardy, chief currency strategist at Saxo Bank. He recalled that "for four years in his post (head of the Fed) it almost always leaned in the "pigeon" side."

On Wednesday, investors expect the publication of US statistical data. The US Commerce Department will release revised data on changes in GDP in the third quarter, data on household income and spending in October, and new home sales last month.

Meanwhile, the country's Labor Department is releasing statistics on the number of Americans who first applied for unemployment benefits last week. The University of Michigan will publish the final value of the US consumer confidence index for November.

The Australian dollar moved lower after reaching its highest since early September against the US dollar earlier in trading.