XE Market Analysis: Asia – Nov 02, 2020

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After losing some ground overnight, the Dollar recovered some through the N.Y. morning session on Monday. The DXY fell from a one-month high of 94.28 to 93.98 into the open, subsequently bouncing modestly to 94.18. Incoming U.S. data was supportive, which saw the manufacturing ISM improve more than expected. Safe-haven USD flows were noted ahead of Tuesday’s U.S. elections, while Covid lockdown in Germany, France, and much of the U.K. weighed on their respective currencies.