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- Asian session review: the US dollar declined slightly against the major currencies
Asian session review: the US dollar declined slightly against the major currencies
During today's Asian trading, the US dollar fell slightly as investors prepared for the release of US data that is expected to show employment growth and a decline in the unemployment rate in March, as the world's largest economy continues a steady recovery from the pandemic.
Sentiment against the dollar has improved in recent weeks, while treasury bond yields have surged as the Biden administration's planned more than $ 2 trillion stimulus and the rapid rollout of the COVID-19 vaccine spurred economic optimism as well as concerns about inflation.
While Friday's trading is likely to be muted as many financial markets are closed for the Easter holiday, analysts say the dollar's rise to multi-month highs is likely to continue as more investors bet on the economic recovery.
According to forecasts, the nonfarm payrolls in the United States, which are due to be published later on Friday, jumped by 647,000 in March from 379,000 in February. The unemployment rate is expected to fall to 6.0% from 6.2%.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.08%.
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