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Asian session review: the dollar rose slightly against most currencies

TimeCountryEventPeriodPrevious valueForecastActual
03:00ChinaTrade Balance, blnDecember75.4072.3578.17

During today's Asian trading, the US dollar rose slightly against the euro, yen and pound.

The majority of members of the US House of Representatives approved a resolution to impeach US President Donald Trump, now this issue goes to the Senate - the upper house of Congress. 232 congressmen voted for impeachment, 197 against. Among those who voted "for" - 10 Republicans. The resolution accuses Trump of "serious crimes and misdemeanors" in view of last week's riots in the US Capitol. However, the US Senate is expected to either reject the impeachment motion or delay consideration of the issue until the next president comes to power.

The US budget deficit in December was a record $143.562 billion for this month, the Ministry of Finance of the country reported. This is 10.8 times higher than the figure for December 2019, which was $13.286 billion.

Meanwhile, on Thursday, US President-elect Joe Biden is due to present his proposals for new measures to support the country's economy.

Pressure on the euro on Wednesday was exerted by political instability in Italy. The Council of Ministers of the country, headed by Giuseppe Conte, was in a situation of political crisis after two ministers from the Viva Italy party announced their resignations.

Meanwhile, Bank of England Governor Andrew Bailey on Wednesday said there were "many questions" about the move to negative interest rates.

China in 2020 increased exports by 3.6% to a record $2.49 trillion, according to data from the Main Customs Administration of the People's Republic of China. At the same time, imports decreased by 1.1% and amounted to $2.05 trillion.

The ICE index, which tracks the dollar's performance against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), rose 0.05%.

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