XE Market Analysis: Asia – Jan 27, 2021

The Dollar headed broadly higher through the London morning session, and into early N.Y. trade, before pulling back some later in the session. A fairly severe bout of risk-off hit equities, while supporting Treasuries, which resulted in a round of safe-haven USD buying. Talk of over-valued equities, along with the usual concerns over Covid, vaccines and the lack of fiscal stimulus weighed on sentiment overall. For data, December durable orders missed expectations by a mile, though likely had little impact on markets.