XE Market Analysis: Asia – Jul 01, 2019

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The Dollar bounced in N.Y. trade on Monday, taking the DXY to eight-session highs of 96.82 from pre-open lows of 96.36. The agreed trade truce over the weekend appeared to have lowered expectations for aggressive Fed easing, which supported the USD through the session. Wall Street opened sharply higher, though bled a good chunk of gains through the session. The trade truce is just that, a truce, and there will likely be many moments of disagreement and rhetoric to come from both sides in the coming weeks. With this in mind, Wall Street will likely remain cautious going forward.