Investors should bet the dollar will fall against its Canadian counterpart on expectations the Federal Reserve will introduce more stimulus, according to BNP Paribas SA.
The pound strengthened the most in more than a week against the euro after U.K. reports showed construction output slowed less in April than economists forecast and mortgage approvals unexpectedly rose in March.
The franc strengthened after the Swiss central bank stopped short of announcing a target rate or temporary peg to the euro in its third attempt in as many weeks to drive down the currency.
The pound, the best-performing major currency in the past year, strengthened after the Bank of England said further gains are possible as Britain’s economy expands amid falling unemployment.
"Our top trades for 2015 are similar to those that proved successful in 2014: short euro and yen as policy divergence continues to dominate."
- Steven Saywell on Dec 09, 2014
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