FX Update: The dollar dipped at the open of Asia-Pacific dealings
FX Update: The dollar dipped at the open of Asia-Pacific dealings on concerns about the government shutdown in the U.S, but subsequently recovered losses. EUR-USD popped about 50 pips high, logged a peak at 1.2274 before ebbing back to near net unchanged levels around 1.2225. USD-JPY'S low was 110.52 before the pair lifted to an intraday peak at 110.91. The U.S. Senate will vote on government funding at noon in Washington DC today after negotiations by a bipartisan group of senators failed to produce a breakthrough on Sunday. News that Germany is on course to have a new grand coalition has also been in the mix, though gains the euro saw in early trade have unwound, providing fresh signs that sentiment toward the common currency has soured somewhat with the strength of the euro starting to be seen as having a potential impact on ECB policy.