XE Market Analysis: Asia – Mar 07, 2018

The DXY bounced modestly from pre-open lows, aided early on by a better than expected ADP employment report. The dollar index topped at 89.77 from lows of 89.53. The departure of Trump advisor Cohn stirred markets up, reulting in lower stocks and lower yields. EUR-USD slipped from 1.2424 highs to 1.2383, before settling near 1.2400. USD-JPY bounced to 106.21 highs, later heading to 105.83, as stocks hit their worst levels. USD-CAD matched Tuesday’s 1.3001 highs, as trade/tariff fears remained, coming from 1.2892 at the open. The BoC remained on hold as expected.