XE Market Analysis: Asia – Dec 09, 2020

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The Dollar found some traction in N.Y. on Wednesday, seeing the DXY peak at 91.20, up from 90.77 early in the session. A soggy risk backdrop provided some support to the USD, following more than a month of surging global equity markets, which weighed heavily on the Greenback during that time. The Dollar may continue to gain some ground into year-end, as stocks are likely to consolidate the massive gains seen this year. Profit taking and rebalancing of portfolios should keep pressure on equities, which in turn, should support the USD.