Dollar dips

TOKYO: The dollar turned broadly lower, moving in line with declining U.S. 10-year Treasury yields and retracing gains from Monday in light trading ahead of Thursday´s Thanksgiving holiday in the United States.
With limited data this week and the release of minutes from the Federal Reserve´s November meeting and a speech from Fed Chair Janet Yellen expected in the next 24 hours, analysts said investors were seeking to even their books after dollar strength the previous session.
"It´s just a lot of consolidation in the market," said Kathy Lien, managing director at BK Asset Management.
"The dollar is just marking its time.
"The euro edged up 0.1 percent to $1.1740. The single currency registered its biggest one-day fall since Oct. 26 on Monday but investors then looked beyond Germany´s political impasse to focus on the euro zone´s still-robust economy.
"The worst-case scenario is that the German political process will take a little more time to resolve, but markets are not expecting anything extraordinary to come out of this and the bigger picture is that the economy is performing well," said Commerzbank currency strategist Esther Reichelt in Frankfurt.