The state of the Asian market: the dollar and the yen received support

Stock indices of the Asian-Pacific region are traded above zero after the positive closing of Wall Street and rising prices for raw materials. An additional positive factor for the growth of stock indices in the Asian region was the report of the Bank of Japan, which had a positive impact on the sentiment of the market.

So, the Japanese yen at the beginning of the day received little support due to fact that the monetary policy of the Central Bank of Japan remain unchanged. The strengthening of the yen was caused by a positive outlook for the growth of the Japanese economy in 2018-19. Despite the positive signals from the Central Bank of Japan, the yen’s growth was not long, due to the absence of obvious changes in Japan’s monetary policy.

The US currency also received a small support by the end of trades on Monday on the termination of the three-day closure of the US government. Despite this, the market also reacted very restrainedly to this news. The dynamics of the US dollar index is still clamped in the sideways trend due to the lack of significant drivers for the movement.

Graph of the US dollar index. The current price is 90.20.

Hanzenko Anton