XE Market Analysis: Asia – Jan 02, 2019

The Dollar rallied in N.Y. on the first trading day of the year, taking the DXY to 96.88 highs, up from 96.27 into the open. Safe-haven flows were behind the Greenback’s gains early on, as Wall Street opened sharply lower on the back of China growth concerns. Aside from Markit PMI data, there was no data on Monday. EUR-USD fell to 1.1336 lows, a nearly two-week bottom from 1.1400 at the open. USD-JPY dipped to 108.82, later rallying over 109.40 as Wall Street pared losses. USD-CAD topped at 1.3663 early, before slipping back to 1.3569 on firmer oil prices. Cable fell to 1.2582 lows.