XE Market Analysis: Asia – Nov 16, 2016

The dollar advanced further in N.Y. trade on Wednesday, despite some U.S. data misses. The dollar index rallied to 100.55, 14-year highs, as EUR-USD slipped to 1.0666 lows, and USD-JPY touched 109.75. USD-CAD pulled back to 1.3405, as oil prices shot up on reports that OPEC is close to production cap agreement. Cable bottomed under 1.2430. On the data front, PPI and industrial production both missed forecasts. Dollar gains look set to continue as a December Fed rate hike appears near certain at this juncture.[EUR, USD]EUR-USD faded to trend lows of 1.0666 ahead of the London close, before rallying to…

Source: XE news feed
XE Market Analysis: Asia – Nov 16, 2016