FX Action: The dollar has opened the week on a mixed-to-firm footing
FX Action: The dollar has opened the week on a mixed-to-firm footing, edging out an 11-week high versus the euro, nudging higher versus the pound and commodity currencies, but holding near net steady against the yen. EUR-USD logged an 11-week low at 1.0963, making this the sixth consecutive lower low on the daily chart. Boston Fed president Rosengren repeated his arguments for hiking sooner rather than later, as waiting too long would risk having to act "more quickly" further down the road. The pound saw a short-lived dip in the early Asia session, with a "hard" Brexit remaining in the frame after both German Chancellor Merkel and French President Hollande argued over the weekend that if there the UK closes freedom of movement, then there UK will forgo full and free access to EU markets. Stock markets in Asia have been mixed. Overall, analysts expect the dollar to remain firm as markets discount a Fed rate hike in December.