XE Market Analysis: Asia – Aug 26, 2020

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The Dollar started the N.Y. Thursday session on a firmer note, getting a brief boost from a much stronger durable orders outcome. Gains were not to last however, as the USD fell broadly through the remainder of the session. The DXY peaked at a four-session high of 93.36, later falling to 92.85 lows. Some position squaring ahead of Powell’s Thursday speech was likely behind the moves. Wall Street was again firmer, with both the S&P 500 and NASDAQ printing fresh record highs. Treasury yields rose as the market took profits ahead of Powell.