NY FX Outlook
NY FX Outlook: The dollar is heading into the weekend on a softer footing, with the exception of USD-JPY. Hawkish commentary from ECB's Lautenschlaeger set provided fodder for EUR-USD bulls, which now rallied over a big figure form yesterday's 1.1837 low, while BoE MPC member Vlieghe's remark that a rate hike could be seen "as early as in the coming months" provided rocket fuel for Cable, which lunched above 1.3600 for the first time in 15 months. The biggest movers have been the yen crosses, with GBP-JPY leading the way with a whopping 2.2% gain on the day so far. EUR-JPY is up by 1.2% and USD-JPY by 0.9%. The hawkish shifts in Europe, aside from the SNB's case, is leaving yen exposed to the BoJ's committed dovish stance, with the Japanese currency weakening today even despite a new North Korea missile launch and terrorist incident in London. Ahead, the U.S. calendar brings August retail sales, industrial production, July business inventories and preliminary September consumer sentiment.