Yesterday’s US Dollar (USD) rally led to a break below the key psychological 1.05 EUR/USD support and an exploration above 107.0 in DXY.

The US Dollar (USD) is ending the week on a strong note. The DXY raced to a new, two-year high overnight in response to weak European data but has conceded a lot of those gains ahead of North American trading, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

USD/CAD got caught in the crossfire of the hefty US Dollar (USD) advance against the European currencies earlier, rising quickly from the mid/upper 1.39s to an intraday high near 1.4020.