During today's Asian trading, the US dollar rose moderately against major currencies.

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 0.2%.

The US currency is supported by the continued growth of US Treasuries yields, associated with the "hawkish" statements of the Federal Reserve System. Fed Chairman Jerome Powell said last week that the Fed could start reducing the volume of asset purchases at the meeting on November 2-3 and complete this program by mid-2022. On Monday, he noted that US inflation is likely to remain high in the coming months, but then inflation will begin to slow down.

At the same time, Powell acknowledged the risks that inflationary pressure in the US will be stronger than expected, or deeper. The Fed will raise the benchmark interest rate if "a significant increase in inflation will cause serious concerns," according to the text of its statement prepared for a speech in the US Senate on Tuesday.

The increase in the yield of US Treasury bonds traditionally supports the dollar. The yield on 10-year US Treasuries on Monday broke the 1.5% mark for the first time since June and remains above this level on Tuesday.

The situation in Germany remains in the focus of traders ' attention, where parliamentary elections were held over the weekend and negotiations on the formation of a government coalition are now ahead, which may take several weeks or even months, analysts say.