XE Market Analysis: Asia – Mar 06, 2019

The Dollar was relatively steady in N.Y. trade on Wednesday, with the DXY posting an “inside day”. A wider trade deficit and lower Treasury yields weighed on the USD slightly in early trade, though EUR-USD bucked the trend, falling to session lows as talk of a sharp cut to the ECB’s economic forecasts at Thursday’s ECB meeting made the rounds. USD-JPY bottomed at 111.62 before recovering to 111.79 highs as Wall Street pared losses. USD-CAD shot to two-month highs over 1.3450 as the BoC released a dovish policy announcement.