"Considering that share markets fell after the end of QE1
said Shin Kadota, chief FX strategist at Barclays, referring to
the Fed's previous transitions from one asset-purchase phase to
Earlier, a Japanese trade-deficit report pulled the yen
down. Data released on Wednesday showed Japan posted a deficit
of 1.29 trillion yen ($12.56 billion) in November, marking a
record 17 straight months of deficits as a weak yen inflated the
cost of imported fuels.