XE Market Analysis: Asia – Oct 05, 2020

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The Dollar was mostly lower in N.Y. trade on Monday, weighed down by the unwinding of long USD safe-haven positions as risk-on conditions returned. Reports that president Trump is doing better after being treated over the weekend for Covid, along with increased hopes that a U.S. fiscal aid package can be passed, combined to buoy Wall Street and weigh on Treasuries. Incoming U.S. data helped stock market sentiment as well, as the September services ISM came in significantly better than expected. EUR-USD rallied to 1.1798 highs from opening lows under 1.1750.