Asian session review: the dollar was almost unchanged against the major currencies

During today's Asian trading, the US dollar consolidated against the euro and the yen, as market participants await the outcome of the Federal Reserve meeting.

Economists do not predict that the US Federal Reserve will make any important decisions at the January meeting, which ends on Wednesday. The base interest rate is likely to remain at 0-0. 25% per annum in the coming years, and the only point where changes are possible in the foreseeable future concerns the timing of the asset repurchase program.

The attention of market participants will be focused on how the Federal Reserve will assess the latest news regarding the economy and the prospects for its recovery, as well as the strengthening of inflation.

According to the experts of Julius Baer, " now is not the time to talk about the termination of monetary support." In their opinion, instead, it is necessary to use fiscal stimulus measures more widely, if necessary.

Senate Democratic Majority Leader Chuck Schumer said that US President Joe Biden, along with Democrats in Congress, intend to advance his plan to stimulate the US economy without the support of Republicans, if necessary.

The ICE Dollar index, which shows the value of the US dollar against six major world currencies, rose by 0.06%.