FX Update: The dollar has been on the up again
FX Update: The dollar has been on the up again, clocking fresh trend highs versus many developed- and emerging-world currencies today. U.S. data yesterday, along with the minutes to the FOMC meeting in early November, pretty much cemented a Fed rate hike in December. EUR-USD logged a 12-month low of 1.0525, while USD-JPY lifted to a fresh trend high of 112.97 after the London close yesterday, the highest level seen since late March. EUR-JPY also logged a new high, of 118.99, which is the best level since June, while GBP-JPY and AUD-JPY, among other yen crosses, clocked new highs, illustrating continued yen underperformance in the context of a generally firm dollar environment.