FX Update: The dollar has remained buoyed but below trend highs
FX Update: The dollar has remained buoyed but below trend highs. USD-JPY has hugged the 111.00 level in the absence of Tokyo markets, which today were closed for the Labour Thanksgiving public holiday. The pair is holding near the five-and-a-half-month high at 111.36, which was made on Monday. Another set of record highs among the main Wall Street equity indicies on Tuesday is keeping dollar dips shallow. EUR-USD has been settled in the lower 1.06s, below yesterday's rebound peak at 1.0658. USD-CAD has modest downside drift, but has held well within Tuesday's range. AUD-USD shrugged off weak construction data out of Australian and popped to a four-session high of 0.7445 following a strong reading in the November MNI business sentiment index for China. The Brexit-blighted pound has ebbed for a second day, logging respective two-day lows versus the yen and euro. Market conditions are likely to be subdued today ahead of tomorrow's Thanksgiving holiday in the U.S.