XE Market Analysis: Asia – Aug 17, 2020

Comments are off

The Dollar was lower to start the week in N.Y. with persistent USD weakness coming from various crosscurrents, including the lack of a stimulus bill, COVID uncertainty, and political uncertainty ahead of the November elections. The DXY hit a low of 92.78, down from 93.10 highs ahead of the open. This marked the lowest in seven-sessions. The only data point was the Empire State index, which was softer than expected, which weighed modestly on the USD. Wall Street was mixed, with the NASDAQ posting fresh all-time highs and the Dow lagging, while Treasury yields were lower.