FX Update: The dollar continued to trade firmer
FX Update: The dollar continued to trade firmer. EUR-USD logged a low of 1.1106, putting last Friday's two-month nadir into reach, while USD-JPY's rally extended to a peak of 104.07, swinging last Thursday's six-week peak at 104.16 into scope. Fed tightening expectations having been keeping the dollar bid. Our post-employment data survey of Fed watchers found all respondents expecting a 25 bp rate hike at the December 13-14 policy meeting. Japanese markets and yen market liquidity returned today following yesterday's public holiday. Sterling came back under the cosh amid continued Brexit angst. The London Times headlined that a "hard Brexit" could cost GBP 66 billion a year. UK data showing a 0.4% y/y gain in the headline BRC retail sales gauge was overlooked.