XE Market Analysis: Asia – May 09, 2019

The Dollar index fell to seven-session lows of 97.24 in N.Y. on Thursday, coming from opening highs of 97.63. Incoming data was a bit softer than expected, with core PPI a bit cooler, jobless claims a bit higher, and the trade deficit a bit wider. Focus remained on the risk backdrop, where U.S./China trade spat remains unresolved. Wall Street fell sharply, but later pared gains when Trump said a trade deal could still come this week. Aside from USD-JPY which headed to three-month lows of 109.47 on risk-off trade, the Greenback was hit by a round of selling, as Treasury yields tanked.