FX Update: The dollar managed to lift against most currencies
FX Update: The dollar managed to lift against most currencies, out of fresh lows seen during the pre-Europe session in Asia in the case against the dollar bloc units. The pound concurrently trade at slightly softer levels, consolidating lower after recent Brexit-related outperformance, while the Swiss franc come under some pressure, posting five-day lows against both the dollar and euro. Cable corrected to the lower 1.2900s after yesterday posting a five-month high at 1.3012. The pair is still up by over 8.5% from the major-trend lows seen in early September, with markets having pretty much unwound the perceived risk for there being a no-deal Brexit scenario on October 31. The UK's Parliament will today start voting on the legislation for PM Johnson's divorce deal. It's a close call. EUR-USD nudged printed a 1.1133 correction low after posting a fresh 11-week high at 1.1179 yesterday. USD-JPY remained buoyant, although off recent highs while EUR-JPY is trading at moderately softer levels after rallying to five-month highs yesterday. USD-CAD saw a three-month low at 1.3071. The pair is down by about 1% form week-ago levels, and is showing just over a 4% decline on the year-to-date. This follows what is now a three consecutive weeks of underperformance. A recovery in global risk appetite (much reduced no-deal Brexit risk, cancellation of planned U.S. December tariff hikes on Chinese goods) has helped underpin the Canadian dollar, and other commodity-correlating currencies. On the domestic scene, Canadian PM Trudeau's Liberals are set to form a minority government after a tight election yesterday.