Market news

16 October 2020

Asian session review: the dollar traded stable against the euro

In today's Asian trading, the US dollar showed no significant changes against the euro and declined moderately against the yen.

The growing number of new coronavirus infections in Europe and the lack of progress in the adoption by the US authorities of a new package of stimulus measures to support the economy are contributing to an increase in demand for safe haven assets. Since the beginning of the COVID-19 pandemic, 38 million 854 thousand 432 cases of coronavirus infection have been recorded worldwide. Johns Hopkins University reported that the number of victims of virus-related diseases has increased to 1 million 97 thousand 359 people.

A number of European countries, including Germany, France and the United Kingdom, have announced new restrictive measures in recent days in an attempt to slow the spread of COVID-19 amid a growing number of infections.

The pound is getting cheaper. Traders ' focus remains on the future of the UK-European Union trade deal. Britain's chief Brexit Negotiator David Frost said he was disappointed with the EU's position on negotiations with London on the parties ' future relationship. He also expressed bewilderment at the statements that in order to achieve a future agreement between the UK and the EU, all initiatives must come from the British side.

The ICE index, which tracks the US dollar against six currencies (the Euro, Swiss franc, yen, canadian dollar, pound sterling and Swedish Krona), fell 0.03%.

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