Forex and Gold Daily Report 24 January 2013

The dollar traded flat to higher against most major currencies on Wednesday after the Bank of Canada left rates unchanged amid a rather dovish take on its economy, which sent investors snapping up dollar positions on sentiment the global economy still faces headwinds. Advances in U.S. stock markets capped the greenback’s gains and sparked appetite for risk-on asset classes.

Gold prices fell on Wednesday after the U.S. dollar rose when the Bank of Canada left rates unchanged and gave a rather chilly assessment of its economy, which sparked demand for the dollar.

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