XE Market Analysis: Asia – Jun 04, 2021

The Dollar fell broadly in N.Y. on Friday, the result of a weaker May U.S. jobs report, and subsequently sharp drop in Treasury yields, as Fed tapering concerns were largely taken off the table for now. From Thursday’s high to Friday’s low, the 10-year Treasury yield fell 7 basis points to 1.56%, weighing on the USD, while at the same time supporting Wall Street, which rallied on Friday. The rate sensitive NASDAQ outperformed, rising 1.4% ahead of the close. Next week’s U.S.

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