XE Market Analysis: Asia – Oct 23, 2020

The Dollar moved modestly higher through the morning session, buoyed by safe-haven buying as Wall Street fell on dimming expectations for a new stimulus bill anytime soon. The two sides remain far apart on some items, like aid to states. The DXY rallied from opening lows of 92.67, later peaking at 92.96. The major equity indices later pared losses, which saw the USD cut some of its gains. There was little data to drive the markets, though Markit manufacturing and services PMIs both moved slightly further into expansionary territory, but had little impact.