FX Update: The dollar traded mixed in the absence
FX Update: The dollar traded mixed in the absence of its domestic markets today, losing ground to an outperforming yen while gaining around to an underperforming pound. The yen was buoyed by declines in European and Asian stock markets, while sterling was knocked by weekend reports that UK PM May will declare in a speech on Tuesday that the UK will go for a clean break from the EU, leaving both the single market and customs union. USD-JPY clocked a six-week low of 113.62 before recouping to the low 114s. Cable printed a three-month low at 1.2085 before recovering to the 1.2050 area. The dissolution of North Ireland parliament today over a political spat threatens to delay the Brexit process, which helped was taken as a cue to trim sterling short positions. EUR-USD clocked a three-session low of 1.0579 before settling around 1.0600.