💵Dollar Posts Best Monthly Gain Since July: Cable FX Macro

• A measure of the dollar vs G10FX peers saw the greenback rise on the month to record its largest gain since July. Dollar gains extended on a Fed December repricing, lower implied volatility and risks abroad.

• The yen bottomed the group in October, USD/JPY was the strongest gainer; BoJ hold and intervention warnings at 155 fueled yen selloff, up from early-Oct lows near 146. Dollar-yen risk reversals hold a premium for puts over calls at 69.75bps in the 1m tenor

• For the dollar, option markets hold a bullish sentiment as the 1m tenor remains favoring calls over puts, 1m USD riskies reached the most bullish level since "Liberation Day" earlier in October.