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Forex pairs in this Article » EUR/USD, USD/JPY (London) - Strategist Lee Hardman at The Bank of Tokyo-Mitsubishi UFJ noted The US dollar’s performance against the other G10 currencies is proving more mixed in the near-term deriving only modest support from heightened Fed QE tapering expectations so far.

Key Quotes:

“The clearest US dollar strengthening trends in the near-term remain against the yen, Canadian dollar, Norwegian krone, and Australian dollar”.

“Canadian dollar weakness accelerated yesterday following the release of another dovish policy statement from the BoC in which they downplayed stronger annualized real GDP growth of 2.7% in Q3 while noting that downside risks to inflation appear to be greater with the annual rate of headline inflation falling to just 0.7% in October”.

“The statement signals that the probability of a rate cut continues to rise
helping to weaken the loonie”.
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