XE Market Analysis: Asia – Jul 16, 2020

The Dollar turned mostly lower through the N.Y. morning session on Thursday, though recovered in afternoon trade. The DXY dropped from 96.18 to 95.90 lows, then bounced to intra day highs of 96.32. Incoming U.S. data was mixed, seeing strong retail sales, though a very slow rate of decline in jobless claims, plus erosion in the six-month component of the Philly Fed index had the market fearing a slowing in the economic recovery may be ahead. Wall Street and yields were lower.