XE Market Analysis: Asia – May 04, 2021

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The Dollar was mixed through the N.Y. session on Tuesday, though the DXY ended on a firmer footing, up over 0.3% on the day to 91.29 highs. Data misses dented USD sentiment to a degree, as the March trade deficit widened to a record, and factory orders missed consensus expectations. Wall Street was sharply lower, with big tech taking the brunt of losses. The equity market did not take kindly to Treasury Secretary Yellen saying interest rates might need to rise to cool off economic overheating. Despite that, yields dipped on the back of the risk-off backdrop. Wednesday’s U.S.