XE Market Analysis: Asia – Feb 01, 2021

The Dollar firmed up in N.Y trade on Monday, taking the DXY to six-week highs of 91.01 from overnight lows of 90.50. Talk of foreign account USD buying as a new month kicked off was heard, taking the Greenback higher despite the risk-on backdrop, which usually results in a softer Dollar. Incoming data was mixed, leaving the manufacturing ISM as still solid levels, but below forecasts. Construction spending was marginally better than expectations. Wall Street managed gains, as recent disruptions from Robinhood and GameStop faded somewhat.