During summer, EUR/USD held a tight sideways range as the relative policy shifts between the Fed and ECB were limited. Currently, Fed rate hike expectations prevail again, pushing EUR/USD lower in the range.
Sterling was hammered immediately after the Brexit vote. The UK economy withstood the first Brexit shock well, but the prospect of further BoE easing and uncertainty on a "hard Brexit" keep sterling in the defensive.
The yen didn't weaken after the September BOJ policy meeting. However, USD/JPY finally gained ground on overall USD strength as US bond yields trended higher. A break above first resistance at 104.32 didn't occur.
