XE Market Analysis: Asia – Feb 08, 2021

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The Dollar again lost ground in Monday morning trade, with follow through selling seen after Friday’s weakness. Overbought conditions last week resulted in the two-session correction, though further downside from here is expected to be limited, as Treasury rates continue to climb, and as progress is made on the Covid vaccine front. The DXY slipped to one-week lows of 90.90, down from opening highs of 91.23. The index later recovered to 91.07 into the London close. There was no U.S. data to impact markets today. January CPI and wholesale data will be released on Tuesday.