The euro has sold-off lately and is trading around its lowest level since mid-January against the U.S. dollar on Wednesday. But this is rendering it undervalued ahead of the European Central Bank’s policy update on Thursday, according to Scotiabank strategists Shaun Osborne and Eric Theoret. Rising government bond yields TMUBMUSD10Y, +0.88% in the U.S. lent support to the dollar DXY, +0.45% and market expectations for interest-rate hikes by the Federal Reserve still hover around three to four raises this year, compared with only three guided to by the U.S. central bank. Last year, investors were arguably more ... (full story)