Asian session review: the dollar fell against the euro and the yen

During today's Asian trading, the US dollar declined against the euro and the yen after strengthening slightly earlier in the week. Another wave of growth in demand for safe haven assets, caused by reports of the emergence of a new type of coronavirus in the UK and several other European countries, supported the US currency.

The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.31%.

"The recent strengthening of the dollar is a technical lift caused by increased demand for reliable assets," analyst DailyFX.com Margaret Young said. The approval by the US Congress of a new stimulus package, however, provoked profit-taking by investors, which led to a weakening of the dollar, she says.

The upcoming adoption by the US authorities of the next package of measures to support the economy, as well as expectations of the imminent introduction of vaccines from COVID-19, support investors ' optimism about the prospects for the global economy, which will contribute to the weakening of the dollar.

As reported, US lawmakers this week agreed on a new program to support the economy, which provides, in particular, direct payments to citizens in the amount of $600. US President Donald Trump has demanded that Congress amend the bill to increase direct payments to Americans.