XE Market Analysis: Asia – Aug 18, 2020

Comments are off

The DXY hit a 27-month low of 92.13 at mid-morning in N.Y. on Tuesday, down from 92.56 into the open. USD selling interest has perked up for the past few session, as the market frets over the lack of progress being made on the COVID front in the U.S., which has clouded the economic outlook, not withstanding the sharply higher housing starts data today. In addition, the lack of government stimulus headway has been a weight on the USD, as have been November election jitters. Wall Street was mixed, though the S&P 500 and NASDAQ both printed record highs. Treasury yields were lower.