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USD Falters As Asia Ends The Week On A Quiet Note

FOREX

The greenback lost ground in thin Asia-Pac trade, as all three e-mini contracts crept higher, while participants moved on after reports on U.S. Pres Biden's tax plan roiled Wall Street. The DXY seems poised to record its third weekly loss in a row.

  • NZD failed to catch a bid alongside its commodity-tied peers, even as there was little in the way of fresh headline flow to undermine the kiwi.
  • USD/JPY slipped to a new seven-week low over the Tokyo fix, but clawed back initial losses.
  • The PBOC set its central USD/CNY mid-point at CNY6.4934, 2 pips above sell-side estimates. USD/CNH held a familiar range and is set to record its third straight weekly loss.
  • Preliminary PMI data from across the U.S. & Europe, U.S. new home sales, UK retail sales, ECB's Survey of Professional Forecasters & comments from ECB Pres Lagarde take focus from here.
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