XE Market Analysis: Asia – Oct 29, 2020

Despite the largely risk-on backdrop in N.Y. on Thursday, the Dollar rallied broadly. Solid incoming data appeared to have a bit of a delayed reaction from the FX market, as Q3 GDP beat consensus forecasts, as did the weekly jobless claims figures. The DXY rallied to one-month highs of 94.10, up from overnight lows of 93.34. Wall Street was choppy, though sentiment was buoyed to a degree by the better data. Covid concerns remain however, along with election jitters.