- Asian session review: the dollar rose against most currencies
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Asian session review: the dollar rose against most currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 05:00 | Japan | Leading Economic Index | January | 97.7 | 99.1 | 98.5 |
| 05:00 | Japan | Coincident Index | January | 87.4 | 91.7 | 90.3 |
During today's Asian trading, the US dollar rose against the euro, but declined against the yen.
A combination of extremely loose monetary policy, unprecedented government spending, and successful vaccination in the United States have fueled hopes of accelerating economic growth and inflation, bringing the yield on ten-year US Treasuries to the highest since January 2020.
In addition, the dollar's appeal as a safe haven asset is being boosted by concerns about the surge in COVID-19 cases and the pace of vaccination in Europe.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.10%.
The Chinese yuan was trading steadily against the US dollar. The People's Bank of China (PBOC) has kept its benchmark loan prime rate (LPR) unchanged for the eleventh consecutive month as the economy continues to recover from the COVID-19 pandemic crisis. The annual LPR remained at 3.85% per annum. The last time this rate was lowered was in April 2020.
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