XE Market Analysis: Asia – Jun 21, 2021

The Dollar was lower on Monday in N.Y., taking a breather from the sharp gains seen following the hawkish FOMC last week. Position squaring was a factor, which saw the DXY fall from London highs of 92.37 to afternoon lows of 91.83. There was no data on Monday to move markets. Wall Street put in a solid relief rally after getting tanked last week, while Treasury yields firmed up as well. After a brief consolidation period, we expect the USD to rise further, as incoming U.S. data is expected to continue to point to sharply higher growth in H2.

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