The US dollar has been confined to extremely narrow ranges against the euro, yen, and sterling. To the extent that there is much action in the foreign exchange market, it is with the dollar-bloc and emerging market currencies. The Canadian dollar was whipsawed by comments from the Bank of Canada. A reference to waiting for 18-months initially sent the US dollar from near CAD1.3380 to CAD1.3280. As Governor Poloz clarified his remarks, linking the reference closing the output gap rather than monetary policy per se. It recovered to CAD1.3360 before consolidating. Higher metal prices, including a 6% rally in iron ore, a ... (full story)