XE Market Analysis: Asia – Jan 15, 2021

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The Dollar rallied in N.Y. on Friday, seeing the DXY print one-month highs of 90.77, up from 90.43 in early trade. Despite some data misses and lower Treasury yields, the USD posted gains against all major currencies. Hopes for a more efficient rollout of Covid vaccines, and a quicker economic recovery supported the Greenback. Wall Street spent the session in the red, with a sell-the-fact reaction setting in following Biden’s detailing of his massive $1.9 tln stimulus package. Stocks were pressured on concerns for massive deficit spending along with tax hikes to fund the plan.