XE Market Analysis: Asia – Feb 05, 2021

The DXY retreated in N.Y. on Friday, but not before printing its fifth-consecutive higher daily high. The index topped at 91.60 overnight, later falling to 90.01 in afternoon trade. The FX market had been bidding up the USD all week, on improving fundamental, and an accelerating vaccine rollout, leaving it a bit overbought. A softer headline January NFP outcome, despite the solid internals of the jobless report, was enough to prompt a round of position squaring into the weekend. The Greenback lost ground across the board.