FX Update: The dollar traded generally firmer
FX Update: The dollar traded generally firmer today in low volumes with a number of Asian nations enjoying public holidays today, including China, Hong Kong and Taiwan. North American markets will also be absent today. EUR-USD logging a two-session low of 1.2392, and USD-JPY recouped above 106.60, extending a rebound from Friday's 15-month low at 105.52. The greenback was perhaps due a rebound after declining in but two of the last 10 sessions. Data out of Japan today included trade numbers for January and the latest Tankan survey of businesses. The former revealed a deficit of Y943.4 B, which was a little less than the expected Y1, 020.2 B, and follows a surplus of Y358.7 B in the prior month. January trade data are not considered "clean data", being affected by the lead in to China's new year break. The Tankan survey showed that recent yen strength has eroded business sentiment somewhat in the manufacturing sector.