FX Update: The dollar traded somewhat mixed
FX Update: The dollar traded somewhat mixed in mostly narrow ranges in early-week trade. EUR-USD edged out an 11-week low at 1.0963, making this the sixth consecutive lower low on the daily chart, before the pair recouped toward 1.1000. Boston Fed president Rosengren repeated in a WSJ interview over the weekend his arguments for hiking sooner rather than later, as waiting too long would risk having to act "more quickly" further down the road. USD-JPY oscillated in a narrow orbit around 104.10-20, holding below last Wednesday's 11-week high at 104.63. Sterling saw modest weakness versus its G3 peers, while the FTSE 100 equity index, hitherto a beneficiary of currency weakness, underperformed European peers, showing a 0.8% loss versus the Euro Stoxx 50's 0.5%, as of the early European PM session. Gilt yields rose sharply again, with the benchmark 10-year earlier clocking new cycle highs above 1.20%, levels not seen since just before the Brexit vote on June 24.