Ekonomické zprávy
19.10.2021

Asian session review: the US dollar declined against major currencies

TimeCountryEventPeriodPrevious valueForecastActual
01:30AustraliaRBA Meeting's Minutes    


During today's Asian trading, the US dollar has noticeably declined relative to major world currencies.

Pressure on the US currency was exerted by data on an unexpected decline in industrial production in the US in September, as well as signals that the Federal Reserve System may lag behind other central banks with tightening monetary policy.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.34%.

The pound rose 0.35% against the US dollar on signals that the Bank of England may raise the interest rate, currently 0.1%, earlier than expected. The head of the Bank of England, Andrew Bailey, said over the weekend that the Bank "needs to act" to contain the increasing inflation risks.

Federal Reserve data published yesterday showed the maximum decline in industrial production in the United States since February in September - by 1.3% compared to the previous month. Experts expected an increase in industrial production by 0.2%. The unexpected decline in industrial production suggests that global supply chain problems are holding back the recovery of the American economy, experts say.

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