XE Market Analysis: Asia – Jan 19, 2021

The Dollar plied a narrow range overall in N.Y. on Tuesday, leaving the DXY between 90.40 and 90.58. There was no data to drive the USD, and some consolidation appeared to be settling in ahead of the inauguration on Wednesday. Ongoing talk of massive fiscal stimulus under the Democrats supported Wall Street, which posted decent gains. Deficit spending to fund the stimulus supported Treasury yields, as did nascent inflation concerns. Treasury Secretary nominee Yellen stressed the need to go “big” on stimulus, as indicated in her prepared remarks. She also indicated the U.S.