Asian session review: the US dollar declined slightly against most currencies

During today's Asian trading, the US dollar recorded a weak decline against the euro and a basket of major world currencies.

Investors ' attention is focused on the minutes of the July meeting of the US Federal Reserve System, which will be published later on Wednesday. The document may give hints about the future plans of the Fed regarding the timing and pace of curtailing the asset purchase program.

The euro rose slightly against the US dollar after earlier during the Asian session it reached the lowest level since November 2020.

The New Zealand dollar consolidated against the US dollar, despite the results of the RBNZ meeting. The Reserve Bank of New Zealand (RBNZ) delayed raising rates as policymakers quickly shifted gears after the country was put into a snap COVID-19 lockdown over a handful of new cases, but the bank still expects a hike before year-end.

The RBNZ held the official cash rate at a record low of 0.25% despite the economy running red-hot and a majority of analysts expecting a hike. Some had said Governor Adrian Orr may even deliver a 50 basis point rate hike.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.10%.