FX Update: The dollar has managed to find a footing
FX Update: The dollar has managed to find a footing, with USD-JPY recouping above 111.50, putting in a little distance from the two-month low seen at 111.06 during early trading yesterday. EUR-USD dipped under 1.1840 after earlier edging out a nine-day high of 1.1859. An evolving political crisis in Ireland seems to have encouraging some selling of euros. The dollar also picked up come corrective bids against sterling and the Australian dollar, among other currencies. Tokyo markets returned after Japan's holiday yesterday, and the BoJ announced it was reducing the size of its JGB purchases today by Y10 B. The BoJ news tallies with a Reuters report this week, citing sources, that central bank policymakers are starting to shift out of an ultra-dovish mindset. However, the yen still traded softer despite this, ebbing versus the dollar and most other currencies. Mostly higher stock markets in Asia were conducive of a softer yen. Focus now shifts to European data, where the latest German Ifo business climate indicator is due. U.S. markets return from Thanksgiving, though conditions will remain thin. Treasury futures and the NYSE will be closing early, at 1pm in New York.