XE Market Analysis: Asia – Mar 01, 2021

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The DXY rallied to near three-week highs in N.Y. on Monday, after rallying out of 90.69 lows overnight. A calmer backdrop in the Bond market, and an easing of inflation fears ultimately allowed the index to rally some, following last week’s near two-week lows. A better than expected manufacturing ISM, along with a sharply higher construction spending print supported the USD as well. Wall Street soared higher, taking its cue from a relative stabilization in the Bond markets, following last week’s melt-up in yields.