Quebec voters gave a majority mandate to the Liberal Party, led by neurosurgeon Philippe Couillard, after an election campaign focused on fears the separatist Parti Quebecois would seek another vote on splitting from Canada.
The dollar dropped to the lowest level in more than five months against a basket of peers as the threat of more stimulus from the European Central Bank dissipated and U.K. industrial output exceeded forecasts.
The euro gained against 12 of its 16 major counterparts as European Central Bank policy makers signaled deflation risks are contained, subduing speculation of a round of bond-buying to boost prices and economic growth.
Currencies of three major commodity-producing nations including Australia rose to the highest level in five months amid speculation China will add monetary stimulus, boosting demand for energy and materials.
The euro rose the most in more than two weeks against the dollar amid speculation technical signals triggered automatic orders to buy the 18-nation currency, and on bets tension over Ukraine won’t escalate into military action.
The dollar advanced against most of its 16 major peers amid bets the Federal Reserve will further reduce its bond-buying stimulus and link guidance on when it will raise interest rates to a range of economic indicators.
The euro fell versus the dollar as the European Central Bank signaled it’s monitoring gains in the currency for deflation risks. The yen rose on demand for a haven amid turmoil in Ukraine and pessimism about China’s economy.