XE Market Analysis: Asia – Jan 13, 2021

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FX trade was relatively quiet in N.Y. on Wednesday, keeping the DXY inside of a 90.20 to 90.45 trading band. Incoming data saw December CPI on the cooler side of expectations, though there was little market reaction. Wall Street struggled, though into the close, the major indices were all in modestly green territory. Treasury yields came off the boil following a well-received 30-year bond auction. Looking forward, prospects for huge additional fiscal stimulus from the new Congress, along with the rollout of Covid vaccines will likely result in a faster than initially anticipated U.S.