On Wednesday, the Greenback settled high vs. its major peers as the Single currency paused after having rallied to a more than three year highs overnight amid growing anticipations that the ECB could scale back stimulus during the year. On the economic calendar, traders are awaiting the U.S. MBA Mortgage Applications and Bank of Canada Rate Decision, which is expected to hit 1.25% from 1.00%. Also on the political front, market players were also focusing on the risk of a potential U.S. government shutdown next Saturday.
The Common currency fell by 0.29% vs. the Greenback, to settle at $1.2226 after touching a three-year high on ECB talk. Jens Weidmann Germany's representative of the ECB's policymaking body said on Tuesday "It would be "appropriate" for the European Central Bank to stop its bond purchases, due to run at least until September.
The Sterling pound rose slightly by 0.01%, to settle at $1.3795.
Canada's central bank is widely expected to hike interest rates by 25 basis points and take the benchmark borrowing cost to 1.25%. against the CAD, the USD rose by 0.14%, to settle at $1.2452.
Early on Wednesday, Gold prices fell slightly, backing off its strongest level in around 4-month as the Greenback settled high vs. a basket of major currencies. Gold Futures - Feb 18 (GCG8), fell slightly by 0.04%, to settle at $1,336.50
Earlier today, Oil prices fell slightly, as oil likely to see a downward correction over, but remained well supported on the back of tightening supply and strong global demand. Crude Oil WTI Futures - Feb 18 (CLG8) fell as much as 0.17% as $ 63.62 and Brent Oil Futures - Mar 18 (LCOH8) was down by 0.38% at $68.89.
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