XE Market Analysis: Asia – May 02, 2019

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The Dollar rallied modestly in N.Y. on Thursday, with fallout from Fed chair Powell’s “transitory” inflation comment on Wednesday supporting Treasury yields and the Greenback. The DXY made its way to 97/85 highs from opening levels of 97.59. Incoming data were mildly supportive, with jobless claims a bit higher than expected, while Q1 productivity was sharply higher. EUR-USD fell to 111.72 from highs over 1.1215, while USD-JPY ranged between 111.57, bottomed at 111.37, then steadied near 111.50. Cable fell to 1.3018 lows, as USD-CAD topped at 1.3476 as oil prices plunged.