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- Asian session review: the dollar fell against most major currencies
Asian session review: the dollar fell against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 07:00 | Germany | Retail sales, real unadjusted, y/y | November | 8.6% | 3.9% | 5.6% |
| 07:00 | Germany | Retail sales, real adjusted | November | 2.6% | -2% | 1.9% |
| 07:30 | Switzerland | Consumer Price Index (MoM) | December | -0.2% | 0.0% | -0.1% |
| 07:30 | Switzerland | Consumer Price Index (YoY) | December | -0.7% | -0.7% | -0.8% |
During today's Asian trading, the US dollar fell against its major peers as China set the official yuan exchange rate at its highest level since abandoning the peg in 2005, helping to support demand for other assets.
The Australian dollar led gains among major currencies as the actions of the People's Bank of China (PBOC) spurred broad dollar sales.
Although investor caution over the yuan's rapid rise triggered some later selling of the Chinese currency on Tuesday, the PBOC’s actions nevertheless lifted risk sentiment in the currency markets.
The Australian dollar, a barometer of risk appetite that also tends to follow the yuan, jumped 0.55%, approaching a 2-1 / 2-year high.
The dollar index fell 0.09% to 89.79. On Monday, it fell to 89.415 for the first time since April 2018, but ended the day up 0.1% after US stocks fell.
The pound was trading mixed due to a surge in infections of the rapidly spreading new strain of coronavirus in the UK, with Prime Minister Boris Johnson ordering a nationwide lockdown.
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