The state of the Asian market: the US dollar remains under pressure

Trades in the Asian-Pacific session opened with a decline in the US currency against major competitors. The reason for the sale of the American were the ambiguous dynamics of Wall Street and the decline in the profitability of the US Treasurys. An additional factor in the weakening of the American at the beginning of the day was the weak data on the balance of China’s trade balance. These data made investors to escape into the safe assets.

As a result, the US dollar index is trading near local lows against the main basket of world currencies, but maintains an upward trend, which can eventually lead to the recovery of the American. In addition to the weakness of the dollar in the market, there is a growing interest in safe assets, but it is limited by some uncertainty.

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Hanzenko Anton