Market news

5 May 2021

Asian session review: the dollar traded mixed against the major currencies

TimeCountryEventPeriodPrevious valueForecastActual
01:30AustraliaBuilding Permits, m/mMarch20.1%3%17.4%
06:30SwitzerlandConsumer Price Index (MoM) April0.3%0.2%0.2%
06:30SwitzerlandConsumer Price Index (YoY)April-0.2%0.3%0.3%


During today's Asian trading, the US dollar rose against the euro and the yen, but fell against the pound.

Demand for the dollar, as one of the most reliable assets, remains high amid the continued high incidence of COVID-19 in a number of countries, including India.

On the eve of the dollar fell on the statement of US Treasury Secretary Janet Yellen. She said that it is likely that interest rates will need to be raised to prevent the US economy from overheating if the budget spending programs proposed by the administration of US President Joe Biden are implemented.

Yellen also said that she is not trying to make forecasts about the policy of the Federal Reserve System (Fed), nor to make recommendations to the Fed.

Yellen's statements implied that rates would have to rise if the economy overheated, said the head of R. W. Pressprich & Co. Larry Milstein.

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 by 0.05%.

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