XE Market Analysis: Asia – Mar 03, 2021

The Dollar was largely range bound through the N.Y. session on Wednesday, pushing slightly higher overall in morning trade, later fading some before steadying near mid-range. There was little FX reaction to the incoming data, where the ADP jobs report missed the mark, while the services ISM was light of expectations as well. Surging Treasury yields weighed on equities, with tech stock weakness pressuring the NASDAQ in particular. Later in the session, the Fed’s Beige Book was released, and said that the economy expanded “modestly,” the usual characterization.