XE Market Analysis: Asia – Oct 28, 2020

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The Dollar rose through the London mornings session into early N.Y. trade before sputtering a bit lower through the remainder of the session. The DXY climbed from overnight lows of 93.05 to 93.64, before easing back to 93.37 lows. USD buying was triggered overnight, as equity markets sold off on the back of soaring Covid cases around the globe. Safe-haven demand for the currency was the driver. For data, the September advance goods trade deficit narrowed more than expected, but had little impact on the markets.