FX Update: The euro has remained bid following reports
FX Update: The euro has remained bid following reports that the ECB is considering tapering its QE program. EUR-USD lifted back toward the high seen yesterday after the London close, at 1.1218, while EUR-JPY rallied to fresh three-week high territory above 115.00. USD-JPY also managed to clock a new three-week high, at 102.99, with the dollar itself is being underpinned after Fed's Lacker said a rate hike is needed to head off a likely increase in inflation. The yen itself has remained the short of choice in forex markets with the BoJ still seen on course to expand monetary policy, and with stock markets holding up, although mixed in Asia today. Focus is shifting to Friday's U.S. jobs report for September, as this will have potential to make or break prospects for Fed tightening by as soon as year-end.