FX Update: Someone hit the correction button on the dollar
FX Update: Someone hit the correction button on the dollar, which took a dive after clocking a new trend high versus the yen during the Tokyo session. USD-JPY's high was 113.90, the loftiest level seen since March, and the subsequent correction low was 112.55 -- the biggest deflation the dollar has seen since Trump's election on November 8. The pairing subsequently settled around 113.00. Elsewhere, EUR-USD lifted to a two-session peak of 1.0614, and AUD-USD hit a six-session high. Cable continued to trade comparatively steadily, around 1.2450, while USD-CAD broke the broader trend, lifting back to the upper 1.34s after dipping to a low of 1.3453 in the early London session. A 1%-plus ebb in oil prices has put the Loonie under the cosh.