XE Market Analysis: Asia – Jun 03, 2021

The Dollar firmed across the board in N.Y. on Thursday, with stronger data and firmer yields driving the DXY to three-week highs of 90.55, up from 89.92 lows seen into the open. A much better ADP private payrolls print got the ball rolling, while pandemic lows in initial jobless claims, and a bump up in the services ISM helped USD sentiment as well. The firmer prices paid component stirred up inflation concerns, which helped yields higher. Friday will be all about the May BLS employment report, where upside risk to our NFP estimate of 700k remain following today’s strong ADP report.

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