The Dollar headed modestly higher in N.Y. on Monday, seeing the DXY recover from fresh 33-month lows of 89.42 to a high of 89.92. A sharp bout of risk-off supported the USD, as Wall Street started the year with sharp losses, driven by profit taking from record highs, spiking Covid cases, and angst ahead of Tuesday’s Senate run-off elections in Georgia. Data was light, though saw a bounce in the December Markit manufacturing PMI, and a solid November construction spending report, which were mildly supportive of the Greenback as well.
[EUR, USD]