The dollar recovered from earlier losses against the yen Tuesday afternoon to hold just below the 117 yen level after Japanese Prime Minister Shinzo Abe called for snap elections in December. The election are expected to help his party tighten its grip on power, before he pushes through painful economic reforms.The dollar USDJPY, +0.44% traded at ¥116.92, compared to ¥116.71 late Monday, as investors prepared for a policy statement from the Bank of Japan, expected toward the end of the Asia trading day Wednesday.
The euro EURUSD, -0.14% erased all of its losses from Monday’s session, trading at $1.2539, compared to $1.2462 late Monday.
It GBPUSD, -0.16% traded at $1.5632 Tuesday, compared to $1.5639 late Monday.
The ICE U.S. Dollar Index DXY, +0.17% , a measure of the greenback’s strength against a basket of six currencies, ended the day down 0.40% at 87.5790.
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