USD seems to be on the rise in Asian session, what's going on? - Kakiforex.com - Financial Market Media No. 1 in the World USD seems to be on the rise in Asian session, what's going on? USD seems to be on the rise in Asian session, what's going on?

May 11, 2021

USD seems to be on the rise in Asian session, what's going on?

 The US dollar regained support from the weak global stock market, to rebound earlier in the Asian session. However, the Matawang King is still trading at around a 10-week low compared to his other main competitors.


Compared to most major currencies, the dollar index is priced at around 90.25.


The Dow Jones and NASDAQ stock indexes broke their highs in the early New York trading session, but lost ground again shortly thereafter by wiping out their gains to close lower.


This decline was caused by investors' indecision about the price that higher inflation would put pressure on the stock market.



Meanwhile, the main currency also slumped but the recorded depreciation was inconsistent, the more so for the commodity currency to continue to stay at the highest level of 3 months against the US dollar.


The Aussie and kiwi dollars traded firmly in perpetuity after being supported by rising commodity prices. The price of copper continues to show off brilliant action by hitting all-time highs on Monday.


The Canadian dollar also traded higher, although crude oil trades continued to show decline, but not trembling.


Meanwhile, the currency pound continued to strengthen at its highest level in more than two months against the US dollar after UK Prime Minister Boris Johnson announced easing in isolation measures in England starting May 17.


The euro currency also remained above the price level of 1.21000 even though the US dollar recorded another increase.