XE Market Analysis: Asia – Jan 04, 2019

The dollar rallied in early N.Y. trade on Friday, following a stellar U.S. December employment report. Later, the Greenback slid lower as Fed chief Powell underscored that the Fed would be patient and flexible with respect to the policy path, and would adjust policy as conditions warranted. That helped unwind market misconceptions that the course of policy normalization was on auto pilot. He added the Fed would be patient in its approach. EUR-USD rallied to 1.1418 from 1.1346 lows, as USD-JPY peaked at 108.59, from opening lows of 108.00.