XE Market Analysis: Asia – Jan 25, 2021

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The Dollar was steady in early N.Y. trade, with the DXY idling between 90-25 and 90.35 through mid-morning. Wall Street started the session mostly higher, though reversed course quite sharply lower after the open. This resulted in safe-haven USD demand, which later took the DXY to 90.52 highs. Profit taking from record levels was the driver of equity weakness, ahead of what is a very busy earnings docket this week. Focus will be on profits, though forward guidance will be key for stocks through the remainder of the week. There were no top-tier data releases on Monday.