XE Market Analysis: Europe – Nov 11, 2015

The dollar is trading softer, with EUR-USD having recouped to the mid 1.07s after foraying to a new seven-month low of 1.0674 yesterday, and USD-JPY ebbing to a three-day low at 122.73. We class this a corrective, and continue to expect the dollar’s overall bias to remain upward as the Fed heads to rate lift-off. USD-JPY looks set to break a run of seven higher closing highs, which is a rare feat on a historical basis. Stock markets have been mixed in Asia, and oil prices are near two-week lows and copper prices close to six-year lows.