XE Market Analysis: Europe – Sep 18, 2017

The dollar majors have been in consolidation mode in thin early-week trading, in the absence of Tokyo markets, where were closed in observance of a Japanese public holiday. USD-JPY firmed up some early on, settling above 111.10 but holding below Friday’s 111.33 two-month peak. EUR-USD made time in the mid 1.19s. Sterling has started the week on a steady footing after rallying strongly last week following the BoE’s unexpected hawkish turn, with the central bank having laid the groundwork for a first-in-a-decade rate hike.