XE Market Analysis: Asia – Jan 03, 2018

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The dollar posted modest gains in N.Y. on Wednesday, taking the DXY from overnight lows of 91.81, to 92.24 highs, before pulling back to near 92.05. A strong U.S. manufacturing ISM outcome supported the greenback, though there appeared to be little USD buying conviction in the market ahead of the key December jobs report on Friday. Wall Street continued its early 2018 winning ways, also supportive of the greenback. The dollar later reacted to the FOMC minutes headline saying that some officials saw the possibility that U.S. tax cuts could lead to faster interest rate increases.