XE Market Analysis: Asia – May 24, 2021

Comments are off

The FX market was in snooze mode to start the week, with major Dollar pairings confined to narrow trading bands. The DXY topped at 89.95 early in the session, later dipping to 89.76 lows, then steadying near 89.85. There was no data of note. Wall Street headed higher, with gains coming on easing inflation concerns. Big tech took the lead, with the NASDAQ up over 1% and the S&P 500 and DJIA posting solid gains as well. While it may be early to pull down the inflation red-flags, the 10-year breakevens fell the most last week since September, indicating less concern over prices.