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- Asian session review: the US dollar rose against the euro and yen
Asian session review: the US dollar rose against the euro and yen
During today's Asian trading, the US dollar rose against the euro and the yen.
However, the yen may rise may rise to 100 yen/$1 in the coming months, analysts in Tokyo said.
The ICE Dollar index, which shows the value of the dollar against six major world currencies, rose 0.31% from the previous day.
According to experts, the yen will benefit from large-scale monetary stimulus from the US Federal reserve, which affects the dollar.
"The yen may rise to 100 yen / $1 in the period from April to June, as US monetary policy puts pressure on the dollar and traders' attention is again focused on such fundamental factors as the fall in us Treasury yields," according to strategists at Citigroup Global.
The growth in demand for the dollar interrupted the rise of the yen last month, after the Japanese national currency rose to a three-year high of 101.19 yen/$1. The yen was strengthened by the demand for safe haven assets in the context of the pandemic.
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