XE Market Analysis: Asia – Aug 12, 2020

The Dollar was marginally lower overall in N.Y. on Wednesday, resulting in a DXY bottom of 93.29 from opening highs of 93.64. The USD has been suffering since the start of July, as pandemic concerns cloud the growth outlook, as the Fed remains in uber-easing mode, and more recently, growing fears that congress will not agree on a new stimulus bill. For data, July CPI came in hotter than expected, though ultimately did not provide any support to the Greenback.