XE Market Analysis: Asia – Mar 11, 2021

The Dollar was weaker in N.Y. on Thursday, taking the DXY to one-week lows of 91.38 from early highs of 91.80. Better than expected initial and continuing jobless claims provided a brief boos to the Greenback early in the session, though despite slightly higher Treasury yields, the USD then turned broadly lower. Surging yields over the past couple of weeks had supported the Dollar, though as the bond market has largely this week steadied, the yield driver appears to have stalled, as inflation concerns have ebbed some following Wednesday’s benign PPI outcome.