• Asian session review: the dollar rose against the world's major currencies

Market news

21 December 2020

Asian session review: the dollar rose against the world's major currencies

TimeCountryEventPeriodPrevious valueForecastActual
00:00JapanBOJ Governor Haruhiko Kuroda Speaks    


During today's Asian trading, the US dollar rose strongly against major world currencies amid growing demand for safe haven currencies after information emerged about the spread of a new type of coronavirus in the UK. The news overshadowed reports that U.S. lawmakers have finally agreed on a new package of measures to support the economy.

The British authorities decided on Sunday to introduce the most stringent restrictive measures on the movement of residents of London and almost the entire south-east of England due to a new type of coronavirus infection. Some of the European countries have announced the restriction or termination of transport links with the UK.

Reducing risk appetite in global markets is also contributing to growing expectations that Britain and the EU will not be able to conclude an agreement governing their future relationship before the Brexit transition period expires on January 31, 2020. Last Sunday, negotiators from the UK and the EU were unable to complete work on the agreement, which means that MEPs will most likely not have time to vote on it before the end of the year.

Leaders of the US Congress on Sunday agreed on a new package of anti-crisis measures totaling $900 billion, said the Republican majority in the Senate, Mitch McConnell. Votes on the issue in the US Senate and House of Representatives are expected to be held on Monday.

The ICE dollar index, which tracks its performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.73%.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.