Asian session review: the US dollar rose slightly against the major currencies

During today's Asian trading, the US dollar rose against major currencies, ahead of the release of some key US data this week, including retail sales and inflation data for June. Investors also continue to monitor the situation with the spread of new strains of coronavirus amid concerns about the forecast of global economic growth.

The European Central Bank (ECB) will outline new guidelines for the future direction of monetary policy at a meeting on July 22, ECB Head Christine Lagarde said. She also made it clear that the European Central Bank may introduce new measures to support the economy next year, when the Pandemic Emergency Purchase Program (PEPP) expires.

Earlier today the yen showed growth against most currencies of the G-10 countries and Asia amid weakening risk appetite and worries about the growth of the Chinese economy. The decision of the People's Bank of China (PBOC) to reduce mandatory reserve ratios for banks, which was announced last week, surprised the markets with its scale, pointing to a slowdown in the growth of the world's second largest economy.

Less than two weeks before the opening of the Olympics in the Japanese capital, an emergency situation has been maintained since Monday in order to prevent the spread of the coronavirus, local authorities said.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose by 0.13%.