XE Market Analysis: Asia – Apr 01, 2021

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After failing to make a fresh trend high, the DXY pulled back on Thursday, taking the index from overnight highs of 93.33 to 92.88 after the London close. A pullback in Treasury yields, along with position squaring into what will be a long weekend for many, were the likely drivers of USD softness. On the data front, a solid ADP jobs report, along with a sharp jump in the manufacturing PMI didn’t help the Greenback, but buoyed Wall Street sentiment. The S%P 500 crossed above the 4k mark for the first time, while the drop in rates saw the NASDAQ outperform.