The US Dollar’s (USD) sharp, post-election advance has moderated a little today, reflecting some drift in US short rates and perhaps some consolidation in USD-bullish positioning, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) has edged marginally higher versus a generally softer USD on the session.

The European Commission’s economic outlook anticipates a pick up in the region’s economy this year and next as consumer demand and business investment pick up, Scotiabank’s Chief FX Strategist Shaun Osborne notes.