XE Market Analysis: Asia – Dec 22, 2020

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The Dollar moved broadly higher in N.Y. on Tuesday, taking the DXY from 90.04 lows at the open to 90.70 in late morning. The risk backdrop remained a bit soggy, as threats of further Covid lockdowns kept Wall Street capped, despite the passing the the $900 bln U.S. aid package. This supported the USD, as did talk of end-of-year related Dollar short covering. Incoming U.S. data was mixed, seeing Q3 GDP revised slightly higher, while consumer confidence and existing home sales slipped, as the Richmond Fed index did better than forecasts.