XE Market Analysis: Asia – Dec 03, 2020

Another day, another 32-month DXY low, as the Dollar continues to be hammered broadly. Negative real U.S. interest rates, along with prospects for another round of U.S. fiscal stimulus, along with hopes that the global economy will rebound quickly once Covid vaccines are widely available, have all conspired against the USD. Today’ incoming U.S. data was mixed, seeing initial and continuing jobless claims fall more than expected, while the services ISM was a bit light of forecasts. Wall Street was higher, with gains driven by lower than expected initial and continuing jobless claims.